Protecting Vietnamese farmers against livestock loss

We also helped to relaunch an important agricultural insurance pilot in Vietnam. It will protect the livelihoods of poor smallholder farmers in the provinces of Vinh Phuc and Ha Giang by insuring them against the effects a major natural catastrophe or disease may have on their livestock. In total, the scheme covers more than 150 000 cattle and buffalo.

To develop a sustainable product that meets actual needs, the scheme has pursued a holistic approach from the beginning, involving all key stakeholders in a public-private partnership. Stakeholders include various government ministries, the Vietnam National Reinsurance Corporation (in the role of aggregator and bridge between the government and local insurers), local insurers and their branch offices, as well as local people’s committees and authorities. The scheme has got off to a promising start and the intention is to expand it rapidly to other provinces.