Project period: January 2023 – December 2025
Climate Risk Financing
Innovative Climate Risk Financing for the Agricultural Sector in the ASEAN Region (AgriCRF)
In most ASEAN Member States (AMS), the agricultural sector is the main source of income for the population. However, productivity has been increasingly affected as a result of extreme weather events. Moreover, financial services options to better protect smallholder farmers and their agricultural production against climate risk are limited.
Although climate risk financing has been recently promoted and agricultural insurance schemes are demonstrating some early successes in the ASEAN region, financial services and the technical aspects of ongoing initiatives still need to be supported with knowledge and innovations. In addition, awareness and financial literacy on climate risk financing of farmers and relevant stakeholders are still needed to be strengthened.
Our Goals
Farmer’s access to resilience-enhancing and gender-responsive climate risk finance is improved.
Areas of Implementation
Regional level with 10 ASEAN Member States, and national level in Indonesia, Thailand and Viet Nam
Approaches
- Promoting climate risk financing for the agricultural sector in ASEAN through regional technical exchanges and developing policy document(s) on resilience-enhancing climate risk financing.
- Facilitating financial institution(s) in developing or improving resilience-enhancing climate risk financing products, and trainings on related topic.
- Increasing the professional competencies of farmers and non-financial institutions by developing training program and conducting trainings.
- Linking sustainability standards and climate risk financing by contributing to standard revision process and participating in consultation processes.
Project Partners
Regional level: Food, Agriculture and Forestry Division of ASEAN Secretariat, the ASEAN Sectoral Working Group on Crops (ASWGC)
National level: Relevant departments under the agriculture ministry and finance ministry, financial institutions, private sector, research institutions, farmers, and other relevant stakeholders
National level: Relevant departments under the agriculture ministry and finance ministry, financial institutions, private sector, research institutions, farmers, and other relevant stakeholders
