From December 2 - 6, 2019, the IFC in collaboration with Africa Re delivered training to the Nigerian insurance market as part of the Index Insurance Technical Assistance Program, which will run until December 2020 and is funded by the WBG’s Global Index Insurance Facility. The program is aimed at providing technical capacity to insurers interested in developing products that will build the resilience of smallholder farmers in the country. In 2019, the number of insured smallholder farmers increased from approximately 15,000 in 2018 to approximately 191,000. The event took place at the Golden...

On Sept 23, 2019, the InsuResilience Global Partnership (IGP) announced its Vision 2025 and work plan at the UN Climate Action Summit in New York. In the communiqué, IGP committed to enhancing climate and disaster risk finance and insurance (CDFRI) as a solution to close the protection gap and emphasize the urgency of scaling up and accelerating risk financing in 2019 and beyond. In its Vision 2025 and Workplan, IGP dedicated to achieving ten goals, including: 500 million poor and vulnerable people covered against disaster and climate shocks by pre-arranged risk finance and insurance...

Dakar, Senegal, June 24, 2019— IFC, a member of the World Bank Group, together with the African Union’s African Risk Capacity agency and the United Nations Economic Commission for Africa today opened a two-week training event on index and disaster risk insurance. The training will help African governments, the private sector, and the international community carry out financial planning to protect vulnerable populations against climate shocks, disasters, and other crises. Index and disaster risk insurance products help protect agribusinesses, farmers, and other low-income populations against...

<<Version française>> On April 30, 2019, the first Steering Committee meeting for the GIIF project in Cote d’Ivoire took place at Hotel Ibis Plateau, Abidjan. The meeting gathered 15 participants from the Government, insurance sector players and producer associations, to discuss about the setup of the Steering Committee as an enabling tool and guidance framework for achieving the project’s desired targets and outcomes. The meeting was chaired by Mr. Karim Diarassouba, the Insurance Commissioner, who also gave the opening speech. He emphasized the importance of agriculture and...