By Saidu Jalloh, Daily Scope Reporter
The Ministry of Agriculture and Food Security (MAFS) and the United Nations Capital Development Fund (UNCDF) have validated a National Agricultural Insurance Policy to protect farmers from economic losses and guarantee access to finance.
The validation took place Tuesday at the Bintumani Hotel in Freetown.
Speaking at the ceremony, Minister of Agriculture and Food Security, Dr. Henry Musa Kpaka, said the policy will be submitted to Cabinet for approval after finalization and rolled out with stakeholders. He disclosed that priority value chains will be selected for piloting.
Dr. Kpaka described the Agricultural Insurance Policy and the Agricultural Finance Policy as twin instruments that will de-risk farming and boost bank confidence to lend to farmers, thereby driving investment and productivity under the Feed Salone agenda.
Lead Consultant for the policy, Ayandev Saaha of K.M. Dastur & Company Limited, said the process was inclusive and involved actors across agriculture and finance. He noted that insurance will help farmers manage production risks, sustain operations and improve access to credit.
Stakeholders welcomed the policy and called for effective implementation, urging government to consider subsidizing premiums at the initial stage to encourage wider adoption.
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