Monday, February 10, 2025

Bayer and Pula Foundation Insure 10 Million Smallholder Farmers in Africa and Asia

Similar articles

Bayer Foundation and Pula Foundation have announced a groundbreaking initiative at the World Economic Forum to provide insurance coverage to 10 million smallholder farmers in Sub-Saharan Africa and South Asia by 2030. This collaboration aims to enhance the climate resilience of these farmers, safeguarding their livelihoods against the escalating threats of droughts and floods that jeopardize harvests and global food security.

Table of Contents

Subscribe Weekly Market Access News

* indicates required

Strategic Collaboration for Climate Resilience

The partnership leverages Pula Foundation’s expertise in developing scalable and data-driven agricultural insurance solutions that protect farmers’ investments. By mitigating the financial risks associated with extreme weather events, farmers can recover from yield losses, reinvest in their farms, and build long-term resilience in the face of climate uncertainty. This initiative fosters private-public collaborations, shaping the agricultural insurance market and promoting sustainable farming practices across countries like Bangladesh, Pakistan, Malawi, Ghana, Nigeria, Kenya, and Mali.

Funding and Implementation Plans

Bayer Foundation has committed a grant of 10 million euros for insurance premium support, complemented by a donation from Bayer’s Crop Science Division. This funding is expected to unlock approximately 127 million U.S. dollars in insurance coverage, benefiting 10 million farmers. The initiative builds on a successful pilot in Zimbabwe in 2021, where the partnership insured 31,000 farmers against climate risks. This model has since scaled to over one million farmers, demonstrating the effectiveness of public-private partnerships in expanding insurance protection at scale.

– Financial stability allows farmers to increase productivity and income.
– Resilience reduces dependence on external aid during climate crises.
– Data-driven models can be adapted to other regions facing similar challenges.

Climate resilience encompasses not only recovery but also the empowerment of farmers. Providing effective insurance tools enables smallholders to proactively prepare for climatic volatility rather than relying solely on aid. This initiative significantly contributes to global food security as smallholder farmers produce more than half of the food consumed in low- and middle-income countries. By securing agricultural outputs, Bayer and Pula Foundation are ensuring that vulnerable populations can sustain their communities and contribute effectively to their nations’ food supply.

Looking forward, Bayer aims to support a total of 100 million smallholder farmers in low- and middle-income countries by 2030. This ambitious goal includes improving access to agricultural products and services, fostering innovative market models, and reducing business risks across the agricultural value chain. Collaborating with key partners like Pula Foundation, Bayer strives to empower smallholder farmers, enhance their productivity and income, and ensure the long-term food security of rural regions.

Source


This article has been prepared with the assistance of AI and reviewed by an editor. For more details, please refer to our Terms and Conditions. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Latest article