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Fifty-five year old Niyitegeka Veneranda lives in rural Rwanda. She and her husband are parents to seven children and grandparents to five. They farm less than a hectare of their own land, yet she has been able to build a small house, feed her family, and send her last three children to school. She expanded her rice production recently with a loan from a local bank made possible through agricultural insurance, and plans to expand her acreage with another loan next year.
As Rwandan farmers face increasingly erratic rainfall, an innovative program launched today will use automated weather stations to offer 20,000 farmers in the Southern and Western provinces of Rwanda low-cost insurance to protect their loans for high-yielding seeds, fertilizers, and other farm inputs.
In the context of the New York 2014 Climate Week, GIIF and IRI co-organized the inaugural Climate Risk Forum 2014. This event gathered high-profile speakers to discuss "Building Innovative and Sustainable Index Insurance Markets in Developing Countries." It included a keynote address, followed by a panel discussion, and concluded with a question and answer session.
MANILA, Philippines, October 23, 2014— The World Bank group this week brought together trade and agriculture officials from Africa, Asia, and Latin America with experts and private sector representatives for an international dialogue on how to overcome key trade barriers along agribusiness supply chains. The peer-to-peer learning event, titled “Leveraging Opportunities for Agri-Food Agencies in the Post Bali Era” and held in Manila October 22 and 23, aimed to help developing countries build efficient trade logistics systems and services that facilitate agribusiness trade while ensuring food...
PlaNet Guarantee, member of the PlaNet Finance Group, and the GIIF come together to launch the first regional management platform for index insurance. The objective is to cover 60 000 farmers in West Africa by 2015. While agriculture remains the main economic sector in West Africa (on average 30% of the GDP of countries in the region and 70% of the workforce), no risk management tool is offered to farmers to secure their income. In case of drought, floods, or due to other factors that could cause a significant drop in yields, farmers currently receive no form of protection. The traditional...
IFC, a member of the World Bank Group through its Global Index Insurance Facility (GIIF), has entered into a project agreement with SANASA Insurance Company Ltd, to support the development and use of flexible and affordable weather index insurance products to help minimize the impact of crop losses due to floods or droughts on farmer livelihoods. The project objective is to expand access to insurance for food crops such as rice and in turn offer protection for up to 15,000 small-scale farmers against weather-related risks and natural disasters. The project will also raise awareness amongst 50...
Nairobi, Kenya, April 22, 2013—IFC, a member of the World Bank Group, announced that a Kenyan partner of the Global Index Insurance Facility (GIIF), a program managed by IFC and jointly implemented with IBRD, reached a major milestone in April 2013 in improving income security for 100,000 farmers by providing them with insurance against adverse weather. The milestone was reached through the work of Kilimo Salama, a social enterprise launched by the Syngenta Foundation for Sustainable Agriculture with the support of GIIF. Started with only 185 farmers in Kenya in 2009, Kilimo Salama allowed...
* World Bank announces $1.7 million funding for program * Designed to insure against hurricanes like Sandy in 2012 By Susana Ferreira PORT-AU-PRINCE, Haiti, Jan 29 (Reuters) - When Hurricane Sandy struck Haiti late last year, the home Guerda Pierre shares with her three children and mother in Cabaret, north of Port-au-Prince, was flooded - and so was the merchandise she sold to make a living. "The books, the food, everything was wet after Sandy," said Pierre. The plantain plants and beans in her garden were also destroyed. But unlike the majority of Haitians, Pierre had an insurance policy.
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