Developing Countries: Insurance

International Development written question – answered on 21st December 2010.

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Photo of Kerry McCarthy Kerry McCarthy Shadow Minister (Treasury)

To ask the Secretary of State for International Development what plans there are to use funds from the Fast Start Fund to increase access to micro-insurance in developing countries.

Photo of Stephen O'Brien Stephen O'Brien The Parliamentary Under-Secretary of State for International Development

The Department for International Development (DFID) is looking at what works in setting up micro-insurance schemes in developing countries. This will address issues such as: how to get insurance companies engaged; how to make insurance affordable for poorer farmers; and, how to maximise value for money from such schemes. We are working with international partners, including the World Bank, the World Food programme and Oxfam, to help find answers to these questions, and to improve climate risk management for the poor. Some of the preliminary results of our analysis will be available in early 2011 and will inform our approach to micro-insurance and climate change, and our "Fast Start" funding decisions.

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