Poverty Reduction Cooperation Fund

TA 4761: Microinsurance Sector Development – Sri Lanka

Financed by Poverty Reduction Cooperation Fund

Project Summary

This TA is to supplement the ongoing ADB assistance for the Rural Finance Sector Development Program. [ PDF ] Specifically, the TA will assist the Government in drawing up an integrated framework for the development of the microinsurance sector through favorable policies and sector-wide institutional capacity building. It will (i) support the establishment of policies and a legal framework conducive to the promotion of microfinance, and (ii) make insurance services more affordable and accessible to poor and low-income households. It is expected to improve risk mitigation and reduce the vulnerability of the poor and low-income households in Sri Lanka by facilitating them access to affordable life and general insurance products. To support the reconstruction and ease the sense of vulnerability of the affected people the TA will give emphasis to conflict- and tsunami-affected areas.

The TA will be implemented in two phases:

• Phase 1 will comprise of a policy and legal review, and a market assessment
• Phase 2 will consist of an awareness campaign and a pilot microinsurance scheme

• TA Report[ PDF: 179kb | 16 pages ]
• Regional Workshop on Microinsurance Sector Development
• Case Study[ PDF: 108kb | 3 pages ]
• Consultant's Report