The Weather Risk Management Facility (WRMF) is a joint initiative by the World Food Programme (WFP) and the International Fund for Agricultural Development (IFAD) established in 2008 to reduce smallholders’ vulnerability to weather and other risks that limit agricultural production. It aims to encourage and protect investments in smallholder agricultural production, and enhance food security.
WRMF Activities:
- High quality operational research
- Capacity building in weather risk management for food security and agriculture
- Implementing initiatives for innovative risk management solutions, such as agricultural index insurance (including weather, and remotely-sensed indexes). These solutions can be mainstreamed within WFP’s and IFAD’s programmes, as well as those of other partners, for an integrated resilience building approach to climate disasters and change.
WFP, IFAD
Launched in 2008 with the support of the Bill and Melinda Gates Foundation, the WRMF is a joint initiative of the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP).
Targeting areas with a weather risk that affects crop yields in the area.
Global
The primary activity is Weather Index-Based Insurance.
To apply, there is an insurance contract based on an objective parameter (e.g. measurement of rainfall or temperature) at a defined weather station during an agreed time period. Pre-feasibility assessment is done by WFP and IFAD consultants, which includes:
- Findings of the preliminary assessment (including a basic diagnosis of access to financial services in the country);
- Overall natural-hazard vulnerability profile of the country;
- Vulnerability and risk profile of smallholders in the country (e.g. numbers, income levels, sources of income, crops, rainfed/irrigated agriculture);
- Availability of relevant historical and real-time weather data and infrastructure, including capacity and technology gaps;
- Availability of relevant historical agricultural data;
- General demand and supply of financial services;
- Insurance culture in rural areas-particularly for agriculture
Contact technical advisors from IFAD and WFP for more information.