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A climate insurance pilot for agricultural value chains has been launched for Côte d’Ivoire rice farmers, initiated by the African Risk Capacity Limited (ARC Ltd), the Côte d’Ivoire Environment and Sustainable Development Ministry (MINEDD), and the United Nations Development Programme (UNDP) in Côte d’Ivoire.
african-risk-capacity-logoAccording to the announcement, the project aims to establish a solid operational framework that could be replicated across additional agricultural value chains, such as cotton, maize and cacao.
The launching event was attended by 55 stakeholders from the private insurance sector (AXA, Atlantiques Assurance and ALLIANZ and the National Direction of Insurance), Côte d’Ivoire technical ministries and agencies such as the Sodexam, the Anader, the FIRCA and the ADERIZ.
After a workshop, the event wrapped up with 17 recommendations formulated by stakeholders to ensure the success of the pilot project.
Among them were that Sodexam, a state-owned company responsible for meteorology activities in Côte d’lvoire, among other activities, be involved in the design of an insurance product for the sector; that premiums should be subsidised; and that an innovative system of payment and collection of premiums be set up to prevent the dispersion of rice farmers.
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The project is also run in collaboration with the FUSCOP RIZ CI “COOP-CA” (a federation of rice producers and their board of directors), the pilot project also forms part of the broader search for sustainable climate change solutions for agriculture.
David Maslo, ARC Ltd Head of Business Development commented: “ARC and its partners initiated this pilot project as a result of the critical need to protect the agricultural sector and producers’ income from the impact of climate change.
“And while we are here as coordinator and initiator, it is important to stress that the ownership of this pilot programme lies fully with the country’s stakeholders.”