The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) unveiled a multi-stakeholder task force to initiate weather index insurance based on rainfall.

This weather index insurance is widely practised in agricultural-producing countries. At present, Myanmar plans to implement this weather index insurance.

A public-private partnership task force led by Myanma Insurance under the Ministry of Planning and Finance is trying to help manage risk triggered by climate change with the weather index insurance for vulnerable farmers.

Deputy Minister Dr Tin Htut of the Ministry of Agriculture, Livestock and Irrigation held a work coordination meeting with the officials of the Myanma Insurance, experts, UMFCCI vicepresident, president of Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association and cold season green gram farmers on 22 September at the UMFCCI’s office to conduct farmer participatory approach in crop insurance for the winter crops this year.

NN/EM

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