View on the Web 88378       Global Index Insurance Facility   Expanding Access to Index-Based Insurance in Developing Countries January/February 2014 Newsletter (Issue #8) What's New Dutch Donor Support for GIIF Team Conducts Agricultural Insurance - the Review of Index Insurance "Missing Link" Pilots in Benin and Senegal In an interview with the GIIF Team,  Aaltje de Roos, Senior Policy Advisor -  Video on Index Insurance Department for Sustainable Economic Project in Indonesia to Development at the Ministry of Foreign Protect Banks and MSMEs Affairs of the Netherlands, explains why from Losses Following the Netherlands provides substantial donor Earthquakes support for agri-insurance programs in GIIF signs two new developing countries, including the World agreements with Bank Group's Global Index Insurance MicroEnsure to expand Facility. The development of agri-insurance index weather insurance supports self-reliance and reduces the to smallholder farmers in vulnerabilty of low-income Rwanda and Zambia farmers.  Public-private cooperation is Gridded database of crucial for the development of agri- “synthetic” historic insurance markets in developing weather data has been countries. Read more. produced for Haiti and the Dominican Republic and will be delivered to clients IFC, EU and Syngenta Foundation this month. to Expand Weather Insurance to One Million East African Farmers In the Media IFC, a member of the World Bank Group, signed two grant agreements, with a combined value of Index-based - IFC's twist $3.9 million, with the Syngenta Foundation for on insurance for farmers Sustainable Agriculture to expand index-based (Devex) insurance to small-scale farmers in Kenya, Rwanda and Tanzania. Index-based weather insurance can protect against the adverse effects of climate Upcoming Events change and help to strengthen food security in Agriculture Insurance rural communities. It is estimated that the project 2014 Conference on will bring index insurance to approximately one Insurance/Reinsurance of million small-scale farmers within two years. Read Agricultural Risks- Jan 29- more, 31 2014 -Morocco IFC Agri-Insurance Expert Gary Connect with Us Reusche on PPPs and Portfolio Approach LinkedIn Gary Reusche explains why agri-insurance is an Visit Our Website effective ex-ante risk management strategy for farmers, governments and financial institutions. Yet while lenders are critical to efforts to build About the GIIF agri-insurance markets, lenders are wary of high Initiative premium costs to cover the insured risks. Public- private partnerships and portfolio insurance can Launched in 2009, the offer the market the affordable and sellable Global Index Insurance quality agri-insurance products they need to Facility is a multi-donor insure rising agricultural risks. Read more. trust fund financed by the European Union, Japan and the Netherlands and implemented by IFC and Benjamin Collier, Wharton the World Bank. Business School, on Index Insurance and Disasters GIIF’s objective is to expand the use of index Collier argues that index insurance is best insurance as a risk suited to cover disasters which occur every management tool in 20 years or greater because severe risks agriculture, food security lower premium costs. “I am sensitive to the and disaster risk plights of households that experience reduction. According to a climate-related wealth shocks every three recent UN Officer for or five years, but risk reduction, not Disaster Risk Reduction insurance, needs to be the priority for report, natural disasters them.” For more frequent adverse weather have cost the global shocks, ”households treat the insurance as economy $2.5 trillion since an investment; if it doesn’t pay within a 2000 and affected millions year or two, they stop buying. Rather than of people. changing contracts to pay more frequently, as some have tried, we need to make contracts more relevant.” Read more. News from the GIIF Team GIIF's partner in Sri Lanka, Sanasa Insurance, won a 2013 National Agri-Business Sector award. GIIF Program Manager Gilles Gallludec presented at the ACP Open House in Brussels in October. More than fifteen EU- funded programmes aimed at sustainable growth in ACP countries were showcased. GIIF Team members Gilles Galludec and Vijay Kalavakonda spoke at the Munich-Re sponsored Microinsurance Conference in Jakarta., November 12-14. The GIIF Team met with GIIF donors in December in Brussels. GIIF Program Manager Gilles Galludec and GIIF WB Program Coordinator Fatou Assah, Planet Guarantee, Swiss Re and GIIF partner PlaNet Guarantee attended the international conference on Insurance and Reinsurance of Agricultural Risks in Marrakech, Morocco (January 29-30). You received this message because in the past you provided GIIF with your email address. If you no longer want to receive this newsletter please click unsubscribe to be immediately removed. World Bank Group Global Index Insurance Facility, 2121 Pennsylvania Ave., NW, Washington, DC 20433, USA Unsubscribe | Forward