Agriculture / Drought / East Africa / ILRI / Insurance / Kenya / Rwanda

Index insurance pushes farmers closer to cover

Effect of drought: A new insurance scheme being funded by the IFC will benefit 40,000 farmers in Kenya and Rwanda for losses. Photo/FILE

The development of the financial services sector is emerging as potential boon to agriculture in East Africa, with up to 40,000 farmers in Kenya and Rwanda set to gain from a new insurance scheme targeting losses to bad weather.

The scheme comes at a time when Kenya is recovering from a prolonged drought in 2009 that claimed herds of livestock especially in the north where pastoralism is widespread.

The failure of short rains in many parts of the country and consecutive dry spell for previous two years also placed more than 10 million Kenyans on emergency relief aid, with the president terming the drought a national disaster.

Read more… (Business Daily – Kenya)

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