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Index crop insurance mechanism: Ivory Coast approves a 10 billion FCFA loan

30/05/2023
Source : ORISHAS FINANCE
Categories: Sectors

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On January 19, the West African Development Bank (BOAD) granted a loan of 10 billion FCFA (€15.2 million) to set up an index crop insurance mechanism. Côte d'Ivoire ratified this loan on 24 May last in the Council of Ministers.

The project, which consists in setting up an index-based crop insurance mechanism, aims to protect cotton, oil palm and rice producers against yield loss due to climate hazards through the implementation of provision of index crop insurance products.

The grant will be implemented according to a degressive approach over the first three years of marketing insurance products.
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