In 2004, GlobalAgRisk examined the potential for developing rainfall index insurance to hedge against drought and famine risk as part of a World Bank project. The analysis and conceptual recommendations from this study have motivated new efforts by the World Bank and the World Food Programme to introduce index insurance pilots for drought risk and food insecurity. The World Food Programme is now implementing this idea to provide financial assistance for drought-induced famine in Ethiopia under the ARC initiative.

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ETHIOPIA: Analysis of Weather Risks and Institutional Alternatives for Managing Those Risks
Skees, Jack, Goes, Miriti