World Vision Tanzania, a branch of US-based, Christian relief organization World Vision, in partnership with MicroEnsure, a subsidiary of US-based microfinance network Opportunity International, has launched a pilot scheme to provide small-scale farmers in Tanzania with agricultural loans bundled with weather index insurance.
Through the program, farmers can access loans supplied by the Small Enterprise Development Agency (SEDA), an agency of the South African Department of Trade and Industry, in order to purchase farm inputs with the support of Farm Concern International (FCI), a Kenya-based organization that promotes the application of new agricultural practices. The loans include Weather Index Insurance provided by MicroEnsure to cover the farmers in the event of crop failure due to drought.
The pilot is being launched as part of the Makindube Area Development Programme, an existing World Vision Tanzania project. The size of the pilot program has not been disclosed.
By: Alexandra Pattee, Research Associate
About World Vision: World Vision is a private Christian relief, development and advocacy organization dedicated to alleviating poverty. It is active in three areas: providing immediate disaster relief; developing long-term, sustainable development programs; and sponsoring children in need. According to 2008 data from World Vision, the organization served 100 million people across 98 countries. During FY2008, its total revenue was USD 1.1 billion (p5), and it provided USD 314 million in aid for relief and rehabilitation, community development, and Christian impact and leadership projects (p5). USD 208.4 million was provided for child sponsorships, USD 219.3 million for gifts-in-kind and USD 132.6 million for other international relief and development programs (p5). Total operating expenses during this period amounted to USD 1.13 billion.
About MicroEnsure: MicroEnsure was founded in 2005 in the UK as a wholly owned subsidiary of Opportunity International, a global nonprofit microfinance network created in 1974. It was known as the Micro Insurance Agency until 2008. As an insurance intermediary, it provides a range of products including health, life, property and weather index-based insurance to 3.5 million poor clients across six countries: Ghana, India, the Philippines, Tanzania, Uganda and Kenya.
Sources and Resources:
[1] MicroEnsure Press Release, “Market-led Agricultural Project (MLAP) Pilot Launched in Tanzania”, http://microensure.com/news.asp?id=122&utm_medium=email&utm_campaign=Newsletter+-+Issue+11&utm_content=Newsletter+-+Issue+11+CID_4e6931c5c6faa621eb078693d6d4c9c0&utm_source=Email+marketing+software&utm_term=Read+more
MicroCapital.org Article, January 12, 2010, “Bill & Melinda Gates Foundation Grants $3m to World Vision for “Access to Rural Savings in Ethiopia” Project”, https://www.microcapital.org/microcapital-brief-bill-melinda-gates-foundation-grants-3m-to-world-vision-for-?access-to-rural-savings-in-ethiopia?-project/
MicroCapital.org Article, December 27, 2010, “International Finance Corporation (IFC) Expands Microinsurance in Kenya and Rwanda through Syngenta, International Livestock Research Institute, MicroEnsure”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-expands-microinsurance-in-kenya-and-rwanda-through-syngenta-international-livestock-research-institute-microensure/
MicroCapital.org Article, January 15, 2010, “WHO’S WHO IN MICROFINANCE: MicroEnsure”, https://www.microcapital.org/who?s-who-in-microfinance-microensure/
MicroCapital’s Microfinance Universe: World Vision International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=World+Vision
MicroCapital’s Microfinance Universe: MicroEnsure, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroEnsure
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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