Morocco will help Côte d’Ivoire launch an agricultural insurance system to protect farmers from natural calamities, mainly drought which is recurrent in Western Africa and which is very harmful to cocoa, Côte d’Ivoire being the number one area in the world for the produce production.
The cooperation framework agreement related to the establishment of this risk management tool was initialed on Saturday in Abidjan on the sidelines of Morocco’s participation as guest of honor to the Agricultural and Animal Resources Trade Fair 2015, held April 3-12 and expected to attract over 500.000 visitors.
The new accord will enable the West African country to benefit from Morocco’s experience in the field of agricultural insurance and help it structure and develop farm insurance products, to mitigate the effects of climate change on production and ensure sustained income particularly to the most vulnerable farmers.
Under the accord, the Moroccan Ministry of agriculture will assist the Ivorian government, in defining the role of the State in the establishment and development of the agricultural insurance system, mainly regarding financial support and regulatory framework, the establishment and management of partnerships with insurance companies as well as the establishment of agricultural insurance mechanisms and procedures for insurance products management. The Moroccan side will also organize, part of the exchange of experience, training sessions and study tours for Ivoirians.
While the Government of Côte d’Ivoire will provide political, technical and financial support for the establishment and development of the agricultural insurance, the Moroccan MAMDA (la Mutuelle agricole marocaine des assurances,) which is also party to the agreement, will assist the Ivoirian government to design a comprehensive system of agricultural risks coverage and identify the rain-fed crops most vulnerable to climate vagaries that need to be insured first.
Under the agreement, and part of efforts to boost South-South cooperation, once the farm insurance is launched in Côte d’Ivoire, Morocco will assist the West African state in spreading its agricultural insurance model in countries of the sub-region.