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GIZ assists Ghana to develop insurance to mitigate climate risk

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A German Development Agency, in collaboration with the Munich Climate Insurance Initiative (MCII), is partnering countries including Ghana to develop a climate resilience toolbox to mitigate climate impact in these countries.

Ghana is currently validating her toolbox initiative to gather inputs from various stakeholders that would be working with it in the communities and at the national level.

Ghana’s toolbox is primarily designed for government officials in the agricultural sector at the macro and micro levels, which were in the process of improving their disaster risk management framework and implementing interventions in the agricultural sector.

During a side-event at the just-ended UN Conference of Parties (COP23) on Climate Change in Bonn, Germany, Advisor to the GIZ and a member of the MCII, Ms Gaby Ramm, said the toolbox, among other things, was intended to support disaster management and enable information flow on extreme weather and its effects on the agricultural sector.

It would also allow countries to determine whether their current disaster risk management mechanisms were effective and efficient as well as identify the gaps that needed to be addressed.

Ms Ramm noted that the toolbox was to help review and design relevant response and recovery programmes to help build more resilient systems and enable government officials to further support micro, small and medium enterprises.

Consultant for GIZ Risk Toolbox Validation in Ghana, Dr Daniel Asare-Kyei, said: “The toolbox is an approach process that would guide people in developing insurance product for the agriculture sector.”

He said Ghana’s Toolbox Draft was ready and being tested among potential users to solicit their views on its relevance. He said their feedback would culminate in finalising the documents that would be published and made available to key stakeholders like ministries of finance, food and agriculture and the National Disaster Management Organisation.

 

Insurance 

…with Kofi Owusu Tawiah


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