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DRC: Creating crop insurance market and protecting smallholders’ farmers

DRC: Creating crop insurance market and protecting smallholders’ farmers

Author:
Tenin Fatimata Dicko, Financial Sector Specialist
Located in the heart of Africa, with a land surface area of 2.3 million km2, the Democratic Republic of Congo (DRC) is the largest country in Sub-Saharan Africa (SSA) with rich soil and subsoil; over 80 million ha of fertile and arable land and 52 percent of all freshwater resources in SSA. Agriculture accounts for about 20 percent of GDP and employs some 70-75 percent of the economically active population[1]. DRC could potentially feed the entire African continent, yet it is currently unable to adequately feed its own population. The immense potential of the agricultural sector as a vehicle
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The Global Index Insurance Facility (GIIF) is a dedicated World Bank Group's program that facilitates access to finance for smallholder farmers, micro-entrepreneurs, and microfinance institutions through the provisions of catastrophic risk transfer solutions and index-based insurance in developing countries. Funded by the European Union, the governments of Germany, Japan, and the Netherlands, GIIF has facilitated approximately 10.5 million contracts, covering close to 50 million people, primarily in Sub-Saharan Africa, Asia, and Latin America and the Caribbean.
 

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