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The linkage between agriculture and climate change is undeniable. Any change in the climate has significant effects on crop yields and livestock, which intensifies the agriculture sector’s vulnerability to weather and disaster risks. More frequent extreme weather events and natural disasters distress the poor and the vulnerable most heavily and, as a result, agricultural and index-based insurance products have increasingly been regarded as significant tools for smallholder farmers to protect themselves from financial losses. As we know, insurance normally provides valuable access to credit...
The linkage between agriculture and climate change is undeniable. Any change in the climate has significant effects on crop yields and livestock, which intensifies the agriculture sector’s vulnerability to weather and disaster risks. More frequent extreme weather events and natural disasters distress the poor and the vulnerable most heavily and, as a result, agricultural and index-based insurance products have increasingly been regarded as significant tools for smallholder farmers to protect themselves from financial losses. As we know, insurance normally provides valuable access to credit...
A newly designed Global Index Insurance Facility's Country Profile for Nigeria is available for digital viewing. The document contains an overview of GIIF's project in the country with Partner Africa Re.
A newly designed Global Index Insurance Facility's Country Profile for Côte d'Ivoire is available for digital viewing. The document contains an overview of GIIF's project in the country with Partners Atlantique Assurances Côte d’Ivoire (AACI) and AXA Côte d’Ivoire (AXA-CI). Also available in French .
A newly designed Global Index Insurance Facility's Country Profile for Cameroon is available for digital viewing. The document contains an overview of GIIF's project in the country with Partners ACTIVA Assurances and AXA Cameroun. Also availalbe in French .
With each passing year, the risks of unabated climate change are mounting. Climate change will not only make it more difficult to feed the projected 10 billion people by 2050, but its impact is already being felt in the form of reduced yields and more frequent extreme weather events that affect crops and livestock. Providing risk mitigation solutions such as agriculture insurance for the farming community to be able to face the impacts of natural disasters is, therefore, significant. More than 30 participants from eleven countries from across Africa, Asia and Europe gathered in Colombo, Sri...
In 2015, IFC, supported by GIIF, launched the Weather Index Insurance project with Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves, and cold spells in Chitalmari in the Bogra District, Bangladesh. A case study was developed to capture the activity.
In 2015, IFC, supported by GIIF, launched the Weather Index Insurance project with Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves, and cold spells in Bangladesh. In October 2015, during the initial days of the project, GDIC and IFC approached Supreme Seed Company for index insurance partnership for their contract farming farmers. A case study was developed to capture the activity.
On May 22-24, 2018, the IFC Eastern Europe and Central Asia Agri-Finance Project held a 3-day seminar titled “Basic principles of development of index insurance products" for the insurance market of Ukraine. The seminar was a continuation of work started in summer of 2017 that aimed at developing local skills for index insurance and, once again, was led by Shadreck Mapfumo, GIIF Senior Financial Sector Specialist. Mr. Mapfumo and the participants deep dived into the fundamentals of index product modeling based on real data and modern actuarial models. The event was organized with the support...
On January 19, 2018, the International Finance Corporation (IFC) and the World Bank organized a workshop in Abidjan to present the results of a feasibility study on index-based agricultural insurance conducted in Côte d’Ivoire between the months of May and September 2017 by the Global Index Insurance Facility (GIIF). As part of the World Bank Group’s Climate Finance and Risk Management unit, GIIF 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...
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