GIIF is funded by the European Union, Japan and the Netherlands.
The EU is the primary donor partner to the GIIF Trust Fund with a focus on the African, Caribbean and Pacific Group of States (ACP). The governments of Japan and the Netherlands are providing additional support to different regions/countries where IFC operates.
Feasibility study for macro and meso-level index insurance - Jamaica
Project Start date
Ministry of Agriculture and Fisheries (MOA)
Jamaica faces a variety of natural hazards and, on a combined-hazard basis, is among the most vulnerable countries in the world. It lies in the center of the Atlantic hurricane belt, on a complex area of the northern Caribbean Plate margin, and is subject to tropical rainfall and erosion processes. Agriculture in Jamaica is vulnerable to various risks ranging from extreme winds, extreme rain and droughts. However, a large part of the agricultural sector, including large integrated supply chains as well as small farmers, is absorbing all the climate risks, without any risk out-transfer mechanism, neither publicly nor privately (re)insured.
Macro, meso and micro level index-based agricultural insurance feasibility study
The Ministry of Agriculture and Fisheries (MOA) has requested technical assistance from the World Bank to assess the feasibility of public-private index insurance partnerships for critical crops to strengthen its natural disaster assistance program for small farmers located throughout Jamaica. It also asked for a feasibility study for wind speed index insurance for the coffee sector.
A feasibility study about a catastrophe windstorm index insurance program for coffee growers has recommended to implement a pilot in the Blue Mountain Region.
Historic crop loss data from various weather events has been collected from the local extension offices of the Rural Agriculture Development Authority to produce a database that will allow the assessment of the feasibility of agriculture specific index insurance to be provided by the CCRIF.