Crop Insurance : The second phase of the study of the mechanism of crop insurance subject to validation

Crop insurance – A study on the implementation of a mechanism for crop insurance in the Economic and Monetary Union of West Africa (UEMOA) is submitted for approval on Wednesday to experts from eight member countries of this grouping, meeting in Lomé.

The experts from diverse backgrounds including ministers responsible for agriculture and finance, an institution of issue, the WAEMU Commission, international partners with the BOAD, in turn, representatives producer organizations.

Crop Insurance Loss Rates Estimation

The document shall include the additional agroclimatic data needed to estimate loss rates by crop and premium rates and also on the detailed definition of the type of crop insurance tailored to the countries of the UEMOA.

Bank West African Development Bank (BOAD) “plans to implement pilot crop insurance in each of the eight UEMOA states during the period (2011-2013)”, said Christian Adovelande, President this financial institution.

“The implementation of a mechanism for crop insurance in the countries of the UEMOA is a challenge achievable,” he said.

In the UEMOA area, agriculture is more than 80% of the population and contributes over 50% of the GDP of member states. It is the main pillar of economic activity in this area strongly influenced by weather conditions today. Crop Insurance