A new set of agricultural insurance products aimed at smallholder farmers and orchard growers has been launched in Tashkent.
The initiative is being implemented by the National Agency for Perspective Projects, the Ministry of Agriculture of Uzbekistan, the United Nations Development Programme (UNDP), Swiss Re, Europa Re, and other partners.
The first phase of the insurance program provides coverage for cherry, grape, and apricot harvests against frost damage in the Tashkent, Samarkand, Fergana, Andijan, and Namangan regions. The next stage is expected to include coverage for pomegranate, apple, and walnut crops.
According to Orifzhon Fayziyev, deputy director of the National Agency for Perspective Projects, the program aims to develop a system to help farmers manage weather-related risks.
The new insurance products were presented to local insurers, public institutions, and farming organizations. The event is also part of a broader strategy to increase the availability of risk protection tools for farmers.
The initiative is part of the UNDP's global "Insurance and Risk Finance Facility (IRFF)" project in Uzbekistan, funded by the Government of Germany. Its goals include the development of the national insurance market, integrating risk finance into economic planning, improving resilience to natural hazards, and encouraging investment in the insurance sector.
Source: www.uzdaily.uz