Climate change poses a severe threat to small-scale farmers in Africa, whose livelihoods depend on weather conditions. Devastating effects like droughts and pest-related crop losses underscore the pressing need to safeguard Africa's agriculture and agribusiness sectors. Expanding climate risk insurance offers a solution by providing farmers with compensation based on transparent parameters, offering financial protection, and promoting sustainable farming practices. While most African countries have a minimal climate insurance penetration rate, the Africa Inclusive Insurance Program launched by

In 2022, despite the ongoing struggles of the COVID-19 pandemic, the GIIF Program successfully delivered significant results and continued building a strong pipeline to strengthen its ties with clients, other WBG projects and the donor community. All activities, projects, events, trainings, studies focus on further developing the markets. Since the launch of GIIF, more than 13 million agriculture insurance policies have been issued cumulatively, with an estimated outreach of 65 million beneficiaries globally. In these difficult conditions, as the GIIF team we would like to emphasize that we

Nairobi, Kenya, April 22, 2013—IFC, a member of the World Bank Group, announced that a Kenyan partner of the Global Index Insurance Facility (GIIF), a program managed by IFC and jointly implemented with IBRD, reached a major milestone in April 2013 in improving income security for 100,000 farmers by providing them with insurance against adverse weather. The milestone was reached through the work of Kilimo Salama, a social enterprise launched by the Syngenta Foundation for Sustainable Agriculture with the support of GIIF. Started with only 185 farmers in Kenya in 2009, Kilimo Salama allowed

The World Bank Group has announced a Global Shield Financing Facility to help developing countries access more financing for recovery from natural disasters and climate shocks. The Global Shield against Climate Risk or Global Shield, in short, is a collaborative partnership between G7 and V20 to fast-track access to pre-arranged finance which is deployed swiftly and reliably before or soon after climatic shocks and disasters strike. The German government through its G7 chairmanship spearheaded the launch of the Global Shield. Through the Global Shield, governments, communities, businesses, and

Financial inclusion is critical to development in Africa. Yet, many smallholder farmers and micro, small & medium-sized Enterprises (MSMEs ) on the continent have limited access to financial products, including climate-resilient microinsurance and other insurance services. Past December 2022, IFC - International Finance Corporation convened representatives from Cameroon, Kenya, Nigeria, Mozambique, Zambia, and Zimbabwe to discuss building the capacity of companies and regulators to design agricultural insurance products and best practices for assessing the insurance value of smallholder

In 2016, Green Delta Insurance Company Limited started its journey in crop insurance with only 15 farmers. Over the course of the last 7 years, Green Delta has devoted its efforts to spread crop insurance in different parts of Bangladesh, experiencing rapid growth in terms of new farmers onboarded. Green Delta is proud to announce that they have recently achieved a new milestone of 500,000 smallholders farmers across Bangladesh that are now under coverage of their crop insurance. The Green Delta family affirmed they are proud to be a companion of these farmers who are consistently contributing

As part of the latest International Conference on Inclusive Insurance (ICII) with around 1000 participants from over 120 countries discussing how to make insurance more inclusive, and during Day 3 when attendees where discussing the Challenges of Reaching the Client, the Director of Hollard Mozambique ( Israel Muchena) brought up important lessons learned from successful education programs, mentioning the Ngano of Lazy Hare and the Drought story developed for awareness of insurance based on traditional Mozambican tale. In the introduction to risk through an ancient African oral story (Ngano)

Despite the effects of COVID-19, the Program successfully delivered significant results and it continues building a robust pipeline to strengthen this business line to further develop the markets. Since the launch of GIIF, more than 10.5 million agriculture insurance policies have been issued, with an estimated outreach of 53 million beneficiaries globally. We recognize and appreciate all the hard work that our clients do, and we are grateful for the continuous support of our Donors. Please see below summary highlights under each category. Program launch: The establishment of a new Program

The InsuResilience Magazine dedicates this series to the latest developments in the field of Climate and Disaster Risk Finance and Insurance, and showcase innovative and transformative solutions implemented by Partnership members around the world. This first issue, highlights a spotlight on “SMART” Premium and Capital Support - discussed in three highly interesting pieces, contributed by distinguished InsuResilience experts and political leaders: -An exclusive interview with H.E. former Minister Alfred Alfred Jr, Republic of the Marshall Islands and Parliamentary State Secretary Maria

Mayfair Central Testimonial Weather Index Insurance is a microinsurance product, launched by Mayfair insurance in Zambia in 2014, and that has been helping small-holder farmers mitigate risks posed by climate change. Derick Chanda (Chairperson – Kangomba Camp) expressed that most of the farmers in the district did not have insurance to rely on, and that whenever they faced problems or challenges with their crops, they were not sure about where to go and who to ask for help. Now that insurance companies like Mayfair have presence in their lands, they have been able to discuss the technicalities