[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???





--

SIBOMANA Jean Bosco

Google+: https://plus.google.com/110493390983174363421/posts

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http://www.youtube.com/user/sibomanaxyz999

***Transmission Time Interval (TTI) on Friday January 17th, 2014:

TTI=19H04-20H30, heure de Montréal.***Fuseau horaire domestique: heure

normale de la côte Est des Etats-Unis et Canada (GMT-05:00)***





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