[RwandaLibre] CEO Weekends: IFC, EU & MicroEnsure Insure Small-scale Farmers in Rwanda And Zambia

CEO Weekends: IFC, EU & MicroEnsure Insure Small-scale Farmers in
Rwanda And Zambia

Caroline Vutagwa | Friday, January 17th, 2014 at 3:15pm |
Business | No Comments

Farmers in Rwanda and Zambia will soon be protected from bad weather
as IFC, a member of the World Bank Group, has signed two grant
agreements with MicroEnsure Ltd, valued at about $650,000 combined, to
increase the supply of index-based weather insurance to small-scale
farmers in the two countries.

This should help curb the adverse effects of climate change and to
strengthen food security.

The grants were issued by the Global Index Insurance Facility (GIIF),
a multi-donor trust fund financed by the European Union, Japan and the
Netherlands, and implemented by IFC and the World Bank.

"As a pioneer in the provision of weather index insurance to
smallholders since 2004 we have seen the impact that these products
have in unlocking credit to fund inputs, resulting in a dramatic
increase in yields and rural income. Our on-going relationship with
the team at IFC has been central to our growth in this sector,"
Richard Leftley, CEO MicroEnsure and MicroEnsure Asia.

The land in Rwanda and Zambia experience extreme weather in some
areas, this limits smallholder farmers as they are afraid to invest in
crops as they may fail; this leads to reduced yields and continued
food insecurity.

Traditional indemnity-based agricultural insurance has seen little
success due to high transaction costs and premiums. Index-based
insurance, which pays out benefits on the basis of weather data
without costly field verification of losses, is a more efficient risk
management tool. Supported by the GIIF grants, MicroEnsure is expected
to offer index-based insurance to an additional 90,000 small-scale
farmers in Rwanda within two years and 15,000 small-scale farmers in
Zambia within one year.

Gilles Galludec, IFC GIIF program manager, said "There is great
potential for index insurance to strengthen economic security for
smallholder farmers in Rwanda and Zambia while also serving to further
the development of sustainable insurance markets in both countries. A
reduction in weather-related risks also stimulates investment in
farming by making it viable for financial institutions and
agribusinesses to extend credit to smallholder farmers for long-term
investment in the land. Index-based insurance is a powerful tool in
the fight against poverty."

Headquartered in the UK, with a regional base in Nairobi and country
operations across Africa and Asia, MicroEnsure works with mobile
network operators, banks, microfinance institutions, and other
aggregators to provide insurance for the mass market. MicroEnsure has
been operating since.

http://techmoran.com/ceo-weekend-ifc-eu-and-microensure-insure-small-scale-farmers-in-rwanda-and-zambia/

Ese ya ma koperative y'abahinzi n'aborozi mu Rwanda atuma iyi mishinga
ya Banque Mondiale igera ku baturage??? Inzara irinda kubica iyi
mishinga ibamarira iki???


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***Transmission Time Interval (TTI) on Friday January 17th, 2014:
TTI=19H04-20H30, heure de Montréal.***Fuseau horaire domestique: heure
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