The Mamda will disburse 121.37 million USD to compensate farmers

Once the drought state officially declared by the government, the Mutuelle Agricole Marocaine d'Assurance (MAMDA) will pay, under its climate multi-risk insurance, between 1 and 1.2 billion MAD (101.14 and 121.37 million USD) in compensation for the affected farmers.

After the declaration of drought status by the authorities, the insurer MAMDA will proceed in connection with the Ministry of Agriculture services, to the damage assessment and the compensation payment. According to preliminary findings, out of three million planted hectares, a million hectares would be damaged. Reinsurance is placed largely abroad with Partner Re as a leader.

As a reminder, it is in 2010 that the Mamda signed with the state a global comprehensive insurance agreement covering cereals and legumes.

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