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Experiences in index-based insurance for farmers: lessons learnt from Senegal and Bangladesh

Experiences in index-based insurance for farmers: lessons learnt from Senegal and Bangladesh

Content owner:
Proparco's Private Sector & Development
Author:
Chloe Dugger and Rachel Sberro
Topics:
Weather index
Product distribution
Micro-level
Meso-level
In Proparco's Private Sector & Development magazine, Chloe Dugger, Operations Officer in WBG's Finance and Markets Global Practice, and Rachel Sberro, Research Analyst on agriculture finance, write about WBG's Global Index Insurance Facility's experiences with index-based insurance in Senegal and Bangladesh. Their article focuses on micro- and meso-level approaches to distributing agricultural index insurance, which speeds up claims settlement by dispensing with loss assessments and payouts are determined on an objective basis, eliminating the risk of fraud. Please visit Proparco's Private
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EU
DCP
The Netherlands
Global Shield
Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung

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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