Promoting access to micro-insurance for financial inclusion and decent work – Phase II

Expected Programme Framework Impact: Lack of access to micro-insurance products has been a strong obstacle in helping the poor, especially the rural households, to manage risks and vulnerability more efficiently, and to access and use agricultural credit with the ability to manage farming risks. Micro-insurance is in that context an important component of the new joint UNCDF/ILO Rural Finance Programme, a joint initiative of the UNCDF and the ILO that will support increased financial inclusion in Ethiopia. This Microinsurance Inception Phase will fund preparatory work in the area of micro-insurance that, while building upon the achievements and lessons from the initial UNCDF/ILO JP on microinsurance (2009-2015), will pave the way for a large scale programmatic agenda in the area of microinsurance under the new joint UNCDF/ILO Rural Finance Complementary Programme that has been approved by Government stakeholders and for which resource mobilization is in progress. Expected Inception Phase Outcome: The joint UNCDF/ILO Rural Finance Complementary program will incorporate microinsurance (especially rural / agriculture micro-insurance) in its design. The present initial funding will lay the required foundations – stakeholder consultation, evaluation of past pilots, designing farmer focused insurance approaches, assessing readiness of potential insurance providers, undertaking selected studies and preparing the incorporation of MI in the MAP process

Project symbol

INT/15/02/CDF

Admin unit

SFU

Start date

26/05/2015

End date

31/12/2015

Total allocation

253997

Total expenditure

Status

Closed

229967

Development Partners

United Nations Capital Development Fund

Country/Countries

Ethiopia

Outcomes

More and better jobs for inclusive growth and improved youth employment prospects