Ethiopia: EIB Global Funds WFP Climate-Risk Insurance for Farmers

The European Investment Bank (EIB) Global recently announced a grant of up to €4 million to the World Food Program (WFP) in Ethiopia to support the development and rollout of climate-risk insurance products for smallholder farmers. This significant initiative, unveiled during the United Nations Convention to Combat Desertification (UNCCD) COP17, marks the EIB's first climate-risk insurance project and aims to benefit approximately 210,000 Ethiopian farmers. The grant complements an existing €110 million credit line from EIB Global for the third phase of Ethiopia's Rural Financial Intermediation Program (RUFIP III), which is channeled through the Development Bank of Ethiopia (DBE) to eligible rural finance institutions for on-lending.