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Satellite Technology and its continued advancement is critical to the relevance and accuracy of index insurance products as a counter against weather-related risks. The World Bank Group’s Global Index Insurance Facility (GIIF) in partnership with its regional partners has been working with researchers and scientists to refine satellite technology for index insurance product design.
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The Global Index Insurance Facility (GIIF), part of the World Bank Group’s Finance and Markets Global Practice, will launch indexinsuranceforum.org , an online knowledge platform for index-insurance practitioners globally on January 20, 2015. The official launch event will be held in the ACP Secretariat in Brussels, Belgium and will see GIIF’s key donors, including the European Union and The African, Caribbean and Pacific States (ACP) Group, in attendance. The platform features knowledge products, research and discussions on key issues related to the development of innovative index-insurance...
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,...
Niyitegeka Veneranda, 55 ans, est agricultrice au Rwanda. Elle a sept enfants et cinq petits-enfants. Alors qu’elle possède moins d’un hectare de terrain avec son mari, elle a réussi a construire une petite maison, à nourrir sa famille et à envoyer se trois plus jeunes enfants à l’école. Grâce à une assurance agricole, elle a obtenu un prêt d’une banque locale qui lui a permis d’accroître sa production de riz, et elle prévoit de demander un autre prêt l’année prochaine pour étendre encore sa surface cultivable.
Fifty-five year old Niyitegeka Veneranda lives in rural Rwanda. She and her husband are parents to seven children and grandparents to five. They farm less than a hectare of their own land, yet she has been able to build a small house, feed her family, and send her last three children to school. She expanded her rice production recently with a loan from a local bank made possible through agricultural insurance, and plans to expand her acreage with another loan next year.
Full Publication Mobile communications can help to meet the challenge of feeding an estimated 9.2 billion people by 2050. The 12 specific opportunities explored in this study could increase agricultural income by around $138 billion across 26 of Vodafone’s markets in 2020. Connected agriculture could also reduce carbon emissions and reduce water consumed in irrigation. This report, co-authored by Accenture, Vodafone and Oxfam, aims to stimulate the necessary engagement between mobile operators, governments, non-profits and businesses to realize these opportunities and explore others.
Full Publication This pre-feasibility report was prepared for the Ford Foundation by Jason Hartell of GlobalAgRisk, Inc., Ntongi McFadyen of the Livelihoods Department of Save the Children, USA, and Jerry Skees of GlobalAgRisk, Inc., under Ford Grant No. 1100-0121 and IIEF Program No. FF-5H016. GlobalAgRisk is a policy-oriented firm with close ties to the University of Kentucky. Our work is supported by international donors who recognize the importance of markets in transferring natural disaster risk as a means for developing and enhancing access to financial service by the productive poor...
GIIF's Senior Technical Specialist shares key lessons from projects in Africa
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...
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