| Project Detail |
This programme takes forward Switzerland’s global and in-country experience in working on agricultural microinsurance by addressing critical climate risks, hazards and resulting economic shocks for farming people. The programme will sustainably increase resilience of farmers and related micro and small enterprises through climate change adaptation practices, and stimulate sustainable and inclusive growth across multiple agricultural sub-sectors.
Bangladesh’s economy relies heavily on the agriculture sector. The agriculture sector contributes to 13.5% of GDP, and over 87% rural people derive at least some income from this sector. Therefore, agriculture has an overwhelming impact on major national objectives such as poverty alleviation, employment generation, and food security. At the same time, Bangladesh is the seventh most climate change vulnerable country in the world and ranks fifth in terms of economic losses due to climate change. The country is already facing enormous economic losses in the agriculture sector due to an increasing frequency of extreme weather events, such as floods, cyclones and hail storms. To ensure a long-term income generation, equal growth and food security, the agriculture sector needs to be more resilient to the impact of climate change. Microinsurance is an effective instrument to increase this resilience. In Bangladesh, demandbased microinsurance products can address specific needs of the vulnerable and low-income farming population while a conducive regulatory environment can additionally promote a vibrant microinsurance market.
Objectives The overall goal is to increase resilience of farmers and related micro, small, medium size enterprises in the crop, livestock and fishery sectors against climatic hazards through promoting microinsurance in a sustainable manner. Through the programme, at least 200’000 farmers and enterprises will use climate-sensitive microinsurance services, increase income and have better resilience against climate change-related losses, thus improving their productivity and contribution to food security, and an inclusive economic growth of Bangladesh. |
