Home / News / Livestock Index Insurance Helps Kenyan Herders
Thomson Reuters Foundation reports that thousands of pastoralists across six counties in northern and eastern Kenya will get payouts this month under the Kenyan government's subsidized livestock insurance scheme. The disbursement will total nearly 215 million Kenyan shillings ($2.08 million), according to the article. Recently, the Government declared a national disaster after more than 2.7 million people across half of the country have been affected by a severe drought, the worst in six years.
The Kenya Livestock Insurance Program (KLIP), launched last year, was developed by Kenya's Ministry of Agriculture, Livestock and Fisheries, with technical assistance from the International Livestock Research Institute (ILRI), the World Bank Group, and Financial Sector Development (FSD) Kenya, Seeking Alpha also reports. The program receives reinsurance from Swiss Re.