The forthcoming establishment of a fund to prevent natural catastrophes in Tunisia

An agricultural damage-indemnification fund to prevent natural disasters will soon be established in Tunisia. An insurance company will be in charge of managing the fund. A call for applications shall be published in order to choose the insurer and publish a specification forthwith.

The Tunisian Ministry of Agriculture estimates the losses caused by the climate hazards throughout the last eight years at 345 million TND. During that period, the State has covered 40% of the recorded losses that reached 131 million TND.

In Tunisia, the agriculture contributes to 9% of the GDP, 10% of exports and 18% of the national labor. Nevertheless, this sector is still reliant of the weather conditions which are not always favorable.

This fund shall cover the losses caused by the natural disasters and which are not covered by the standard insurances. A national commission will be in charge of sponsoring the fund.

For the record, in the same process in underway in Morocco as it has recently adopted a draft decree on the establishment of an insurance coverage for natural catastrophes.

Read also | Natural catastrophes cover: Adoption of the draft decree