In June 2017, IFC, a member of the World Bank Group, and two biggest insurance associations in Ukraine — League of Insurance Organizations of Ukraine and Ukrainian Federation on Insurance (UFU) — jointly organized an index insurance workshop entitled “Strategic Decisions Metrics for Agriculture Index Insurance” for all interested insurance companies and other market participants. Instructor Shadreck Mapfumo, GIIF Senior Financial Specialist, led the three-day workshop which introduced new approaches to the agri-insurance product development to the local participants. A total of 38

More than 30 participants across Asia gathered in May 2017 in Jakarta to attend a regional workshop focusing on index insurance fundamentals and to discuss best practices in the development of the innovative financial product. The week-long workshop entitled “Fundamentals of Named Peril Index Insurance Risk Transfer Process” was sponsored by the Global Index Insurance Facility (GIIF) as part of its capacity building activities aimed at the development and enhancement of index insurance products in developing countries. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF

More than 50 participants from 13 African nations gathered in Accra, Ghana, from May 1-5, 2017 to attend a regional workshop focusing on the fundamentals of risk modeling for index insurance and to discuss a wide array of agricultural insurance topics. “ The Risk Modelling and Strategic Decision Making for Index Insurance” workshop was organized by the Global Index Insurance Facility (GIIF), in collaboration with African Reinsurance Corporation. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF provides smallholder farmers, pastoralists, microentrepreneurs, and

In a new GIIF Result Stories, Ms. Bintou Diakite, a founding president of ASEDEFE-YDADE (Association pour la Solidarité, l’Entraide, le Développement Economique de la Femme et de l’Enfant), recounts how index insurance has set female farmers free from the consequences of mishaps due to climate disaster. The Result Stories is part of a new bilingual series produced in 2017 to capture farmers' experiences with index insurance in Burkina Faso, Mali, and Senegal.

Karim Traore, President of Burkina Faso's National Union of Cotton Producers, speaks about the cotton farmer's experience with agricultural index-based insurance in a new GIIF Result Stories. “It would be difficult for me to provide exact data, however, I can tell you that index insurance strongly encourages farmers in their work, and we are finding that cotton production has increased in all of the areas where farmers have subscribed to it," says Mr. Traore. The Result Stories is part of a new bilingual series produced in 2017 to capture farmers' experiences with index insurance in Burkina

Mr. Ndianko Sakho, a Senegalese millet producer, speaks about his experience with agricultural index-based insurance in a new GIIF Result Stories. "In the past, farmers had no climate risk management tool. Today with the introduction of agricultural insurance, I can say that some of our concerns are taken into account. The real challenge right now is to set up a national network of coverage in order to allow all Senegalese farmers to have access to agricultural index micro insurance," says Mr. Sakho. The Result Stories is part of a new bilingual series produced in 2017 to capture farmers'

In November 2016, the World Bank Group’s Global Index Insurance Facility (GIIF), in collaboration with the International Labor Organization and Munich Re Foundation, organized a conference workshop entitled “Building Sustainable Agriculture Programs” in Colombo, Sri Lanka. Delivered as part of the 12th Annual Micro Insurance Conference, the daylong technical workshop brought together more than 50 participants from the public and private sector, donors, and development partners. Amena Arif, IFC country manager for Sri Lanka and the Maldives, and Rolande Simone Pryce, advisor from the World Bank

At the request of the Government of Cameroon, the World Bank and the IFC have conducted a feasibility study that seeks to improve the knowledge and understanding of the market opportunity for index insurance. The findings were unveiled in Douala on December 15, 2016, at a workshop jointly organized by the World Bank Group and the Association of Insurance Companies of Cameroon (ASAC). The event was another milestone for Cameroon’s agricultural sector, which is increasingly experiencing shocks due to climate change. In 2015, this sector accounted for 20% of the country’s GDP, approximately US$6

More than 30 participants from seven African nations gathered in Johannesburg for two weeks in October 2016 to focus on the fundamentals of index insurance, and to discuss a wide array of development-related topics ranging from product design to project management. The workshop, entitled “Agriculture Insurance Training,” was organized by the World Bank Group’s Global Index Insurance Facility (GIIF). Co-managed by the International Finance Corporation (IFC), GIIF provides smallholder farmers, rural residents, microentrepreneurs and microfinance institutions with access to finance through the

In a case study, GIIF's Partner ACRE Africa reports that the project has helped Edward and Pauline Mkopi in Kenya protect their crops with weather index, area yield, and hybrid insurance. After several seasons of drought and excess rainfall, the Mkopis say "they now confidently invest in their maize and sunflower farm because they know they are insured against all kinds of risk." They also feel confident in working with ACRE Africa because the product relies on accurate data to determine how to do payouts.