The initiative’s funding volume increased from 420 to 550 million US dollars. The BMZ’s additional contribution was 40 million euros.
The InsuResilience Investment Fund (IIF) is an public-private partnership created by the German Development Bank (KfW), on behalf of the German Ministry for Economic Cooperation and Development (BMZ). It provides Private Debt and Private Equity investments to support the fund's overal objective: to contribute to the adaptation to climate change by improving access to and the use of insurance in developing countries. The specific objective of the fund is to reduce the vulnerability of micro, small and medium enterprises (MSME) as well as low-income households to extreme weather events.
The Fund also provides technical assistance e.g. for product design and development and – temporarily and to a very limited extent only – subsidies to reduce the premium payments for the end-clients.
German Development Bank (KfW)
The governance structure of InsuResilience consists of (1) the InsuResilience Consultative Group, an informal group of like-minded G7 members and other interested donors; (2) the Secretariat, providing a support structure, monitoring results, facilitating knowledge management and coordinating efforts to advance the initiative; (3) Working or Advisory Group, composed of stakeholders or experts from science, development cooperation, private sector, CSOs; (4) Stakeholder involvement to ensure participation of a broad range of actors.
Target Countries of the fund are ODA recipient countries provided that they have an appropriate investment environment.
Target group of the IIF are existing or new insurance or reinsurance companies that already provide or introduce insurance solutions that help clients mitigate climate related risks (e.g. insurance schemes for the clients of microfinance institutions, insurance schemes for agricultural companies, insurance schemes for countries or regions).
Learn more about accessing IIF support here.