Agricultural insurance development in Zimbabwe: partnership between IPEC and IFC

The Insurance and Pensions Commission (IPEC) and the International Finance Corporation (IFC), a member of the World Bank, have signed a partnership agreement to promote agricultural insurance in Zimbabwe.

The IFC will assist IPEC in the creation of a regulatory framework and the development of weather insurance products for farmers.

IFC will also be tasked with studying the risks that producers face, their current coping mechanisms, and assessing the interest of the industry's stakeholders in agricultural insurance.

This initiative is part of the Global Index Insurance Program (GIIF), which has already been deployed in other African countries: Mozambique, Cameroon, Senegal, Zambia and Nigeria.