Agriculture stakeholders want to upscale weather index-based insurance in PH
Key players in the agriculture sector will convene this week to advance the discussion on the upscaling of weather index-based insurance system in the Philippines.
A statement showed that officials from the national government, local government units, lawmakers, private insurance providers, lending institutions, regulators and farmers are expected to participate in the concluding conference of the UNDP-, PCIC-, and GEF-supported project “Scaling-up Risk Transfer Mechanisms for Climate Vulnerable Agriculture-based Communities in Mindanao”.
This is more popularly known as the “Weather Index-Based Insurance (WIBI) Mindanao”.
The meeting will be on December 5, 2017 in Manila, Philippines.
The WIBI Mindanao Project aims to strengthen the resilience of vulnerable agriculture-based communities in Mindanao through climate risk transfer mechanisms and productivity enhancement measures.
The implementation was focused in Mindanao because of the following reasons: i) known to be the food basket of the country and critically important in achieving the national food security; ii) high dependence of small-scale and subsistence agriculture with limited production inputs; iii) persistent poverty and lack of alternative opportunities for employment; and iv) alignment with other UNDP-supported development projects.