Agricultural insurance development in Nigeria: partnership between Africa Re and IFC

Africa Re and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a partnership agreement aimed at boosting the Nigerian agricultural insurance market. Under the terms of the agreement, the two partners will help local insurers develop agricultural insurance products and strengthen index insurance.

The products derived from this type of insurance will enable small farmers to protect their crops against the risks of climate change: drought, floods, irregular rainfall, etc.

This initiative is in line with Africa Re's strategy to support economic development in Africa.