Sri Lanka

Sri Lanka has become the first South Asian country to sign up for an innovative disaster risk financing facility with the World Bank, gaining access to a $102m Development Policy Loan with a Catastrophe Deferred Drawdown Option (DPL with a CAT DDO).

The IFC (International Finance Corporation), part of the World Bank Group, has partnered with micro-insurance company SANASA Insurance to pilot affordable, index-based weather insurance products to farmers in Sri Lanka to help minimise the impact of crop losses due to flooding or drought. It’s another example of index-based insurance products being used to bring insurance […]