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Feasibility study for crop and livestock index-insurance - Papua New Guinea

Feasibility study for crop and livestock index-insurance - Papua New Guinea

Content owner:
World Bank Group
Topics:
Product design
Weather index
Micro-level
Papua New Guinea (PNG) is a lower middle income country located in the Asian-Pacific region. Agriculture is the predominant source of livelihood in the country, with the agricultural sector accounting for 67% of the total labor force and 35% of the GDP in 2010. PNG has a very high exposure to earthquake, tsunami and volcanoes as well as being affected by climatic perils including tropical cyclones and the influence of the El Nino Southern Oscillation (ENSO) cycle which brings with it extremes of drought and excess rain and flooding. The Government of PNG identifies that agriculture has and
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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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