Feasibility Study “Agricultural Insurance in Armenia and Georgia”

Project Completed: November 2014 – February 2015
Coordinator: 
Business & Finance Consulting GmbH, Switzerland
Partners: 
Central Bank of Armenia, ICARE Foundation.

The KfW Entwicklungsbank (“KfW”), the project is aimed at providing agro-insurance scheme(s) that shall contribute to reducing the vulnerability of farmers, SME-s, and intermediaries engaged in agricultural activities in connection with economic damages as a consequence of bad weather events.
The feasibility study shall analyze the risk profile at a national level in both countries, examine the existing initiatives/products for agro-insurance, the given regulatory framework, and the demand. Based on these outcomes the study shall recommend further steps to set up new or support existing appropriate agro-insurance schemes embedded into the specific risk profile of the region and involving international best practices. In doing so, the study shall also assess and take into account options for reinsurance mechanisms and outline needs for consultancy of various parties.
The investigations carried out within this study shall focus on the potential of agro-insurance schemes linked to credit programs, as such programs might be key channels to introduce insurance schemes, create demand, and build scalable insurance systems right from the beginning. The focus of a potential design of an agro-insurance scheme shall lay on clear and simple agro-products based on the most eminent demand of the consumers.
Coordinator: Business & Finance Consulting GmbH, Switzerland
Partners:  Central Bank of Armenia, ICARE Foundation.

 

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