This Thursday, RESULTS Executive Director Aaron Oxley attended a meeting in Bonn, Germany, with other members of the Munich Climate Insurance Initiative (MCII).
At the meeting we examined the prospects for scaling up weather indexed micro crop insurance around the world this year, particularly as the UNFCCC climate negotiations are looking increasingly like they will allow for substantial funds to be made available as the negotiations are finalised in the coming years.
After the failure of Copenhagen to secure a “Big Bang” style globally binding climate deal in 2009, the progress made in Cancun in December 2010 signalled a new approach with more space being created for “bottom up” initiatives. Weather indexed insurance that targets smallholder farmers is a vital component in this, and can be implemented right away. This is important: as events in Pakistan show, the weather does not wait for negotiations, and absolutely impacts the poorest the hardest. The sooner we can begin to increase investments in protecting poor farmers and agricultural workers, the better. Continue reading
The International Finance Corporation (IFC), a part of the World Bank, recently announced it would be providing $4.1 million in grants to three organisations as part of its Global Index Insurance Facility (GIIF).
The grants have been distributed as follows: Continue reading
Posted in Development Finance, Microfinance
Tagged Agriculture, IFC, ILRI, Kenya, livestock, microensure, Microinsurance, Rwanda, Syngenta, World Bank
The All Party Parliamentary Group (APPG) on Agriculture and Food for Development has just published a new report, ‘Why no thought for food?’, which compiles responses from leading authorities in the field of agriculture to its inquiry into the UK’s role in addressing global food security.
This report unveils the fact that spending on agricultural programmes currently makes up just 3% of the Department for International Development’s (DFID) total annual aid expenditure. Despite the World Bank having uncovered that economic growth from agriculture generates at least twice as much poverty reduction as growth from any other sector, DFID has continued to oversee the steep decline in global Official Development Assistance (ODA) spent on agriculture, its share having fallen from 17% of ODA in 1982 to just 3.7% in 2002. In sub-Saharan Africa, the region worst hit by hunger and malnutrition, agriculture spending represents 0.3% of the DFID’s total aid. Continue reading
Earlier in the year we took action to ensure the UK prioritised Microinsurance as a good way of protecting the poor from the ravages of climate change. Al Jazeera has recently produced a short report on micro crop insurance in the Philippines which is a great way to see micro crop insurance in action.