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Weather index-based agri-insurance launched

December 30th, 2015 | by admin
Weather index-based agri-insurance launched
Business
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Bangladesh has launched weather index-based agriculture insurance, first of its kind in the country. Green Delta Insurance Company Limited in collaboration with International Finance Corporation (IFC) has signed an agreement with Sylvan Agriculture Limited, a sister concern of PRAN-RFL Group on agriculture weather index insurance for “Casava Crop” at Madhupur upazilla, Tangail. The event took place at the head office of Green Delta Insurance. Under this project, the farmers of “Casava Crop” will be insured for damages during the cold days and excessive rainfall. On behalf of PRAN-RFL Group Ms. Uzma Chowdhury, Director, Finance and from Green Delta Insurance Ms. Farzana Chowdhury ACII (UK), Managing Director & CEO signed the MoU for the pilot project. Advisor and Founding Managing Director of Green Delta Insurance Mr. Nasir A. Choudhury was present on the occasion. Other higher officials from Green Delta, IFC and PRAN as well as Green Delta Agriculture Team were present in the signing ceremony. Managing Director & CEO of Green Delta Insurance Ms. Farzana Chowdhury said, “Green Delta always addresses national issues and this pilot project regarding weather index-based crop insurance will be another milestone for the industry”. Advisor of Green Delta Insurance Nasir A. Choudhury expressed his delight at this agreement and appreciated PRAN’s national and international business growth over the years. Director, Finance of PRAN-RFL group Ms. Uzma Chowdhury said, “PRAN’s initiative on Cassava Crop will help ease the pressure on other crops in Bangladesh and having Green Delta as our insurance partner will be a significant part of this project’s future success”.

Source: The Financial Express

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