The Minister of Finance and Budget returned to the development of insurance mechanisms on November 14, 2023 at the High-Level Forum on Climate Finance in his intervention.

Mamadou Moustapha Ba indicated that the involvement of the financial sector in the fight against climate change and adaptation efforts has become more than necessary, given the level of vulnerability in Senegal mentioned earlier. According to the Minister of Finance and Budget, “the National Agricultural Insurance Company of Senegal (Cnaas) has allowed Senegalese farmers to benefit from insurance products associated with the risks of natural disasters. In 2022, this company generated 39 billion FCFA in insured capital, 2.5 billion in premiums received including the grant and 1.5 billion in compensation paid