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For eight years, Chandrasiri Vanasunder, a small holderfamer in the Ratnapura district of Sri Lanka, bore the losses caused by drought and excess-rainfall on his 2-acre tea estate. But all that begun tochange in 2012, when a sales representative from Sanasa told him about ‘index-based insurance’ for tea plants. “As soon as I heard about the product, I knew that this was a good product. I have suffered severe losses in the past, and this seemed like a smart idea to help me prepare for future uncertainty.” Vanasunder’s judgment proved right, as approximately half -way through the last season,...
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On the sidelines of UNFCCC COP20 the CGIAR Research Program on Climate Change, Agriculture and Food Security (CCAFS) and CARE will host a half day seminar to raise awareness and showcase actions on approaches to address the food and nutrition security and climate change challenges.
GIIF's Senior Technical Specialist shares key lessons from projects in Africa
As Rwandan farmers face increasingly erratic rainfall, an innovative program launched today will use automated weather stations to offer 20,000 farmers in the Southern and Western provinces of Rwanda low-cost insurance to protect their loans for high-yielding seeds, fertilizers, and other farm inputs.
MANILA, Philippines, October 23, 2014— The World Bank group this week brought together trade and agriculture officials from Africa, Asia, and Latin America with experts and private sector representatives for an international dialogue on how to overcome key trade barriers along agribusiness supply chains. The peer-to-peer learning event, titled “Leveraging Opportunities for Agri-Food Agencies in the Post Bali Era” and held in Manila October 22 and 23, aimed to help developing countries build efficient trade logistics systems and services that facilitate agribusiness trade while ensuring food...
The Syngenta Foundation’s Kilimo Salama weather index insurance program has taken off in Kenya and has recently expanded to Rwanda and Tanzania. Beginning in 2009 with a pilot project offering index insurance to 200 farmers, at last count 51,000 farmers in Kenya and 14,000 farmers in Rwanda have the insurance. In 2011, Kilimo Salama’s partner UAP Insurance collected KSh 19 million in premium payments, and premium revenue has nearly doubled to KSh 33 million in just the first six months of 2012. These premium volumes are approaching levels than can make index insurance economically sustainable...
IFC, a member of the World Bank Group through its Global Index Insurance Facility (GIIF), has entered into a project agreement with SANASA Insurance Company Ltd, to support the development and use of flexible and affordable weather index insurance products to help minimize the impact of crop losses due to floods or droughts on farmer livelihoods. The project objective is to expand access to insurance for food crops such as rice and in turn offer protection for up to 15,000 small-scale farmers against weather-related risks and natural disasters. The project will also raise awareness amongst 50...
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...
This Masters thesis presents the results of a pilot scale study on weather index-based rice insurance in Zhejiang province, China. The goal of this thesis is to find the best suited weather index-based rice insurance model for each rice cropping zone of Zhejiang. By testing a wide range of weather indexes for their relationship with the rice yield per unit land in each rice cropping zone using classic regression models, a set of weather indexes were selected for each rice cropping zone of Zhejiang. A rice insurance product was then designed based on the relationship between the chosen weather index and rice yield. Basis risks were studied in detail in this thesis, and were reduced in the insurance model by defining the insurable farming scale to rice cropping zone and by removing the time trend in rice yields. The results show diversified features in weather index and insurance product design of different rice cropping zones in Zhejiang.
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