ILO, World Bank Set To Increase Access To Insurance In Africa, Asia

The International Labour Office (ILO) and the World Bank Group (WBG) have entered into a partnership, with the aim of providing access to improved insurance products to hundreds of thousands of smallholder farmers, small businesses and individuals in Asia and Africa.

The international labour body said in a statement that the three-year partnership is the first of its kind within the rapidly evolving index insurance industry.

The Facility and GIIF, it added combine their strengths to improve the delivery of index insurance to farmers and their families as well as businesses, through extraction, dissemination and promotion of lessons coming from grantees supported by the GIIF and to strengthen microinsurance markets in countries where GIIF operates.

 SOURCE

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