Insurance Facility

The insurance facility is designed to expand insurance products for agricultural lending from the current coverage of 0.5 million to 3.8 million agricultural primary producers to help reduce credit risks and increase lending across the entire value chain.

Insurance Facility

The primary goal of the insurance facility is to expand insurance products for agricultural lending from the current coverage of 0.5 million to 3.8 million agricultural primary producers to help reduce credit risks and increase lending across the entire value chain.

This will be both by expanding coverage of existing products provided by the Nigerian Agricultural Insurance Corporation (NAIC) and by piloting and scaling new products, such as weather index insurance, new variants of pest and disease insurance, life insurance, yield based and price index insurance.

The Insurance facility is aimed at reducing risk costs and improving lending by providing farmers with a substitute for collateral.