UN, Gates Foundation Launch Weather Insurance

The World Food Program and the International Fund for Agricultural Development will partner with the Bill & Melinda Gates Foundation to bring insurance benefits to rural farmers in the wake of natural catastrophes. The Gates foundation will release nearly USD1 million for the research and planning of insurance schemes. Meanwhile, the two United Nations agencies will establish an overall strategy for a joint Weather Risk Management Facility, which seeks to strengthen public and private entities in the weather insurance industry. (“UN agencies join forces to bring weather insurance to rural poor people” - International Fund for Agricultural Development and United Nations World Food Program, Nov. 17, 2008)

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