In 2011, USAID, Swiss Re, UN World Food Program, and Oxfam America committed to expand the R4 Rural Resilience Initiative from Ethiopia to Senegal over the next five years to help the poor protect their crops and livelihoods from the impacts of climate variability and change. R4 will enable poor farmers in Senegal to strengthen their food and income security by managing risks through a four-part approach - improving natural resource management (community risk reduction), accessing microcredit ("prudent" risk taking), gaining insurance coverage (risk transfer), and increasing savings (risk reserves).
USAID contributed US$ 8 million to support the expansion to Senegal and the global development of the initiative. Swiss Re supports the R4 initiative as the exclusive insurance sector partner and planned to lead the design and implementation of risk transfer solutions. These innovative solutions form part of a comprehensive risk management program that will give thousands of poor, small-holder farmers the means to manage weather vulnerability and enable the risk-taking essential to economic development. Swiss Re will contribute US$ 1.25 million to the initiative.
R4 builds upon the highly successful growth of a multi-year pilot in Ethiopia known as the Horn of Africa Risk Transfer for Adaptation (HARITA) project, which involved a network of global and local partners including Oxfam America, Swiss Re, the Rockefeller Foundation, the Relief Society of Tigray, Dedebit Credit and Savings Institution, Nyala Insurance Company, Africa Insurance Company and the International Research Institute for Climate and Society at Columbia University.
|Location||West Africa, Ethiopia, Senegal, Eastern Africa|
|Value||USD 9.25 Million|