When it comes to risk transfer tailored solutions that complement comprehensive risk management are best. Experience of others provides valuable lessons learned, practices and approaches which may be adjusted to fit your specific circumstances.
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Financial Management of Flood Risk applies the lessons from the OECD’s analysis of disaster risk financing practices and the development of its guidance to the specific case of floods.
This report was prepared by the OECD Secretariat based on input provided in response to an OECD survey questionnaire as well as research undertaken by the OECD and other international organisations.
The impact evaluation is based on household surveys of program participants and non-participants in three geographic locations: Koussanar, Tambacounda, and Kolda. For data analysis, we employ the "double difference" or "difference in difference" impact assessment method, which involves comparing the performance of both participants and non-participants across time horizons on a range of indicators and assessing the difference between changes in both groups.
In 2015, the R4 Rural Resilience Initiative expanded in Ethiopia and Senegal and started in Malawi and Zambia. The initiative now reaches over 192,000 people (32,000 farmers and their families) with its comprehensive risk management approach. Many others are benefitting from combinations of risk reduction, risk reserves and prudent risk taking interventions. In 2015, the first phase of impact evaluation in Senegal was finalized, showing positive results in improving smallholder farmers’ resilience in the face of increasing climate risk.
In 2016, the Rural Resilience Initiative (R4) grew in Ethiopia, Senegal, Malawi and Zambia. Overall, around 42,000 farmers participate directly in R4 while over 200,000 people benefit from it in the four countries with its integrated risk management approach. In the last quarter of the year, the index triggered payouts amounting to US$73,463 for R4 participants in Ethiopia and Senegal.
MANAGING RISKS IN SMALLHOLDER AGRICULTURE THE IMPACTS OF R4 ON LIVELIHOODS IN TIGRAY, ETHIOPIA FROM 2012 TO 2016
The objective of the evaluation is to examine the progress of R4 toward the main goals of increased food and income security from 2012 to 2016. The study builds on findings of the first phase of evaluation, which examined the impacts of HARITA between 2009 and 2012. The evaluation serves three purposes:
Learning how the program is working, who is benefiting, who is not, why, and what can be improved, with the audience being the main stakeholders: OA, WFP, the International Research Institute for Climate and Society, and REST.
Rural communities in the Greater Mekong Subregion (GMS) are vulnerable to climate-related disasters. This report presents the findings of a climate risk financing study conducted by the GMS Core Environment Program in 28 rural communities in Cambodia, the Lao People’s Democratic Republic, and Viet Nam. It provides an overview of the frequency and severity of climate-related disasters for the communities, the impact of these on rural livelihoods, and how local people currently manage climate risks.
As in many developing countries, floods are increasingly becoming a problem in Vietnam. The study finds that, although farmers are willing to pay a significant amount of money for flood insurance, a large proportion do not currently favor taking out a flood insurance scheme. The study highlights the reasons why this might be the case. It also suggests ways in which farmers can be encouraged to invest in flood insurance and highlights opportunities for insurance providers in Vietnam.
Assessment of innovative approaches to flood risk management and financing in agriculture in Thailand
This paper summarizes the findings from work carried out from September 2005 to April 2008 in the Muong Petchaboon District of the Petchaboon Province in Thailand. The experience from Thailand provides key insights into the opportunities and challenges of agricultural flood index insurance, and more broadly, of a disaster risk management policy, which complements flood risk mitigation strategies with the proactive application of modern technologies.
Burkina Faso’s economy is heavily reliant on agricultural production, with close to 80 percent of the active population employed in the sector. Cotton is the country’s most important cash crop. Against this backdrop, index-based insurance solutions have been developed to protect smallholder famers, in particular cotton growers and multicereal farmers.
Agriculture contributes 20 percent of GDP and employs close to half of the labor force in Bangladesh. However, the country is vulnerable to frequent natural disasters that cause serious damages to crops and livestock every year. Supported by the Global Index Insurance Facility (GIIF), the International Finance Corporation (IFC) is working with its partner, Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves and cold spells in Bangladesh.