Bangladesh: Pilot Project on Weather Index-Based Crop Insurance

Sovereign Project | 46284-001 Status: Active

Summary

Latest Project Documents

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Procurement Documents


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Project Name Pilot Project on Weather Index-Based Crop Insurance
Project Number 46284-001
Country Bangladesh
Project Status Active
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 9172-BAN: Pilot Project on Weather Index-Based Crop Insurance
Japan Fund for Poverty Reduction US$ 2.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Agriculture and Natural Resources - Agricultural policy, institutional and capacity development

Gender Equity and Mainstreaming Some gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome Progress with implementation has picked up following the inception workshop on 13 August 2015. Work on preparing data grid for Bangladesh and drought index product design is underway. Contract has been awarded for automated weather-stations equipment. Contract award for Poverty impact evaluation and MIS is underway. Till date, 350 farmers have been enrolled under WIBCI.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

Partner-agent model and Direct sales model are employed for distributing WIBCI products.

Action plan prepared for scaling-up piloted products.

Knowledge dissemination events for sharing project results are to be conducted.

Regulations for WIBCI are being drafted.

Capacity building training on WIBCI for IDRA staff are yet to be conducted.

Educational seminars for public and private insurance companies and distribution partners are yet to be planned.

Upgrading of weather stations is underway.

Technical training for BMD staff and concerned weather data providers and agricultural research institutions conducted.

Awareness seminars/ trainings on climate risk, WIBCI and agricultural risk management are underway.

Geographical Location

Safeguard Categories

Environment C
Involuntary Resettlement C
Indigenous Peoples C

Summary of Environmental and Social Aspects

Environmental Aspects Since the project will not have any physical intervention, it will also not create any adverse environmental impacts.
Involuntary Resettlement The project will not involve any land acquisition, and none of the project activities will result in any physical or economic displacement of people.
Indigenous Peoples Indigenous peoples will not be directly or indirectly affected by any of the project activities.
Stakeholder Communication, Participation, and Consultation
During Project Design During the project conceptualization and design stage, extensive consultations were undertaken with key government and nongovernment stakeholders, international partner organizations, and community members. All the stakeholders' views on the relevance and potential challenges of implementing WIBCI have been factored into the project design. Participation by key stakeholders such as insurance companies, distribution partners, farmers, and concerned government agencies will be an integral part of the WIBCI product and process design. A strong feedback and monitoring system will be built into the project to ensure that the views of rural clients, especially small and marginal farmers, are being taken into consideration in the iterative process of improving the pilot product.
During Project Implementation Participation by key stakeholders such as insurance companies, distribution partners, farmers, and concerned government agencies will be an integral part of the WIBCI product and process design. A strong feedback and monitoring system will be built into the project to ensure that the views of rural clients, especially small and marginal farmers, are considered in the iterative process of improving the pilot product. Capacity building and awareness-raising activities will also enable farmers to grasp the concept in the early stages of development of the WIBCI, help manage their expectations from the project, and provide feedback as implementation progress.

Business Opportunities

Consulting Services Consultants will serve as a Technical Advisory Support Group and a Project Management and Finance Support Group. These consultants and others will be recruited in accordance with ADB's Guidelines on the Use of Consultants (2010, as amended from time to time) to provide services for technical support, implementation, management, and progress monitoring of the JFPR grant.
Procurement All procurement under the JFPR grant will be conducted in accordance with ADB's Procurement Guidelines (2010, as amended from time to time).

Responsible Staff

Responsible ADB Officer Md. Mortaza
Responsible ADB Department South Asia Department
Responsible ADB Division Bangladesh Resident Mission
Executing Agencies
Ministry of Finance
Economic Relations Division (ERD), MOF
Sher-e-Bangla Nagar, Dhaka_1207
Bangladesh
Bank and Financial Institutions Division-MOF
ARIJIT@FINANCE.GOV.BD
Bangladesh Secretariat
Dhaka-1000 Bangladesh

Timetable

Concept Clearance 02 Jul 2012
Fact Finding 04 Jul 2012 to 18 Jul 2012
MRM 22 Aug 2012
Approval -
Last Review Mission -
Last PDS Update 29 Mar 2016

Grant 9172-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Mar 2013 25 Mar 2014 25 Mar 2014 31 Dec 2016 31 Dec 2017 -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 2.00 Cumulative Contract Awards
ADB 0.00 27 Mar 2013 0.00 1.55 77%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 2.00 27 Mar 2013 0.00 0.95 48%

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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