Details - International Climate Initiative (IKI)

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Insurance for agricultural microloans for climate change adaptation

As of: April 2018

Objective and activities

This project established a market for innovative insurance products that farmers could use to safeguard against the impact of extreme climate events, thus enabling them to adapt to climate change in the long term. Those insurance products were based on climate and damage data collected over several years. The data could be used to calculate in advance the probability of extreme climate events occurring and the scale of damage expected. This means, farmers received much-needed financial help on time to prepare for the forthcoming climate event.

State of implementation/results

  • Project completed

Project data

Country:
Peru

Implementing organisation:
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH

Partner institution:
  • Ministry of Agriculture and Irrigation (MINAGRI) - Peru
  • GlobalAgRisk Inc. - USA
  • La Positiva Insurance Company - Peru
  • PartnerRe (reinsurance company)

BMU grant:
€ 2,041,867.85

Duration:
11/2010 till 10/2013

Website:



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