West Africa: AFD/IFAD Partnership to Support Rural Development in Region

press release

Washington — Dov Zerah, Chief Executive Officer of the Agence Française de Développement (AFD), and Kanayo F. Nwanze, President of the International Fund for Agricultural Development (IFAD), signed a financing agreement to support the development of agricultural index insurance in West Africa.

Weather index-based insurance can help secure the income of smallholders who are particularly vulnerable to climate variability. It can improve rural livelihoods and reduce food insecurity. One of the aims is also to improve access to credit by lowering the risk of default for financial institutions.

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