The Global Index Insurance Facility (GIIF) is excited to announce the launch of our latest eLearning modules: Technical Design and Premium Calculations for Crop Climate Insurances, designed to take your understanding of climate insurance to the next level. Building on our foundational Introduction to Index Insurance course, these new modules focus on the intricate details of calculating premiums for climate insurance contracts. Available on the OLC platform in both English and French, this advanced series offers a valuable opportunity for continued learning and skill enhancement. What’s New in

The article recently published by the Africa Reinsurance Corporation in their latest magazine edition underscores the pivotal role of the public sector in fostering the development and expansion of agricultural insurance, particularly in developing countries. It highlights the challenges faced by the agricultural sector, such as pest infestations, adverse weather conditions, and climate disasters, and how these risks threaten the sustainable development of agriculture. Despite the growth of agricultural insurance, particularly index-based policies, coverage remains limited and heavily skewed

In her recent travels across Latin America, Europe, and Africa, Florence Boupda Ngueda, Global Sector Manager of IFC's Financial Institutions Group, highlighted the growing impact of IFC’s efforts in expanding insurance markets. From São Paulo and Mexico City to Nigeria, Kenya, and Tanzania, IFC's investments are bolstering insurance sectors with a focus on resilience against climate risks. Ngueda underscored the urgency of bridging insurance gaps, noting IFC's milestone of issuing over 14 million policies globally through innovative index insurance programs, with GIIF playing a pivotal role

The PULA deal is crucial for IFC as it addresses the significant challenge of low agricultural insurance penetration across Africa, essential for food security. Limited field presence of insurers impede accurate risk assessment. PULA's operations and expansion plans offer a broad coverage, particularly benefiting small-holder farmers who are underserved by existing insurance arrangements. By training local agents and automating processes, PULA enhances operational scalability, vital for reaching more farmers effectively and building their trust. This aligns with the Finance Investement Group

By Fatou Assah, IFC Financial Institutions Group, Global Head As we embark on a new year, it's an opportune moment to reflect on GIIF journey through 2023, a year marked by significant achievements, innovative advancements, and a consistent commitment to enhancing climate resilience and financial inclusion for smallholder farmers, MSMEs, and cooperatives active in the agriculture sector through support of innovative solutions to the insurance industry. The year 2023 marked a significant milestone for GIIF, as we exceeded our initial targets and facilitated the issuance of over 14 million

In the wake of Cyclone Freddy's devastating impact on Malawi's smallholder farmers, the story of Jeya Nsinda stands as a testament to resilience and hope. Cyclone Freddy swept away not just crops but also the livelihoods of countless farmers, leaving them grappling with food shortages and financial struggles. Amidst this adversity, One Acre Fund, in collaboration with IFC, is making a significant difference by providing climate insurance to smallholder farmers in sub-Saharan Africa, offering a lifeline to those who depend on the land for their income. This partnership is not just about

Eight dynamic African young women-led enterprises have been awarded a total of $800,000 at COP28 for their innovative climate change adaptation solutions. The winners emerged from the 2023 YouthAdapt Challenge, jointly organized by the African Development Bank Group and the Global Center on Adaptation, with support from the Africa Climate Change Fund. Each winning business will receive grant funding of up to $100,000 along with comprehensive mentorship and coaching as part of a 12-month accelerator program. Among the distinguished winners is Deborah Nzarubara , the representative of GRECOM , a

Sergio Pimenta, Vice President for Africa, IFC, attended the Africa Financial Industry Summit (AFIS) in Togo, where over 1000 stakeholders and financial policy experts gathered to discuss strengthening Africa's financial sector for social and economic development. Pimenta highlighted three key takeaways from the summit: Firstly, the importance of economic integration in Africa, particularly through the African Continental Free Trade Area, to enhance trade, efficiency, and reduce business costs. Secondly, the need to strengthen Africa's economic foundations by creating a transparent regulatory

The government of Germany has announced an investment of 4 billion euros in green energy in Africa until 2030. This commitment was made during the Compact with Africa conference, which was attended by African leaders and representatives of international organizations. The initiative, launched by Germany in 2017, aims to improve conditions for private sector investment and sustainable infrastructure in Africa, with 13 African countries already participating. German Chancellor Olaf Scholz emphasized the importance of strengthening cooperation between Africa and Europe to achieve climate-friendly

Last month, the Insurance Development Forum's Inclusive Insurance Working Group (IIWG) partnered with international organizations, local regulators, and insurance businesses to initiate a groundbreaking project in Kenya. Supported by key entities such as the United Nations Development Programme's Insurance and Risk Financing Facility, the World Bank Group's Global Index Insurance Facility, and the Microinsurance Network, the IIWG's goal is to foster inclusivity, innovation, and sustainable growth in Kenya's insurance sector. The inaugural Kenya Country Workshop, held on September 28 and 29