IFC, Africa Re partner to enhance farmers’ access to insurance

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IFC, Africa Re partner to enhance farmers’ access to insurance
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IFC, a member of the World Bank Group, has signed an agreement with Africa Reinsurance Corporation, Africa Re, to help thousands of small holder Nigerian farmers to access insurance more easily to protect their crops and livelihoods.
Under the agreement, Africa Re, a pan-African reinsurance company headquartered in Nigeria, and IFC’s Global Index Insurance Facility will help Nigerian insurance companies develop agricultural insurance products, and deepen their index insurance business lines. These index insurance products will help protect farmers against environmental risks such as drought, floods, erratic rainfall, and other natural hazards.

Source: The Guardian.

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