World Bank Group member the International Finance Corporation (IFC) and Zimbabwean insurance regulator the Insurance and Pensions Commission (IPEC) have formed a partnership to create a market for agricultural insurance products in Zimbabwe to protect smallholder farmers from weather-related crop damage and other shocks. Through the partnership, the IFC will assess the risks smallholder farmers face, how they are coping with those risks and will gauge farmers’ appetite for agricultural insurance to protect their livelihoods.
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