International Finance Corporation (IFC) and Green Delta Insurance Company Ltd yesterday entered into an agreement to develop insurance products for farmers to protect them from weather-related losses.

Advisory support will be provided for distributing the products, increasing lending to farmers and improving their risk profile.

Kyle F Kelhofer, country manager of IFC, and Farzana Chowdhury, managing director of Green Delta, signed the agreement on behalf of their respective organisations, according to a statement.

 “Crop insurance will protect rural economy. Weather-index insurance will help regulate farmers' income and infuse reliability to this uncertain sector,” Chowdhury said.

Read full article here