The Tanzania Insurance Regulatory Authority (TIRA) hosted CRDB Bank PLC and Tanzania’s National Insurance Corporation (NIC) to advance implementation of the Tanzania Agriculture Climate Adaptation Technology Deployment Programme (TACATDP), also known as Green Climate Fund (GCF) project FP179. The collaboration centres on developing and bringing to market a parametric insurance scheme (weather index insurance) intended to protect smallholder farmers from climate risks. The meeting reviewed progress under a tripartite Memorandum of Understanding signed in May 2024, covering achievements, emerging challenges and next steps for execution. Workstreams were set out across policy reforms, coordination and integration to support innovative insurance products, product design and development of the parametric offering, and capacity building for stakeholders involved in promoting, overseeing and implementing the programme. CRDB Bank, an accredited entity of the Green Climate Fund, was identified as a key implementer, with GCF support including grant funding for technical assistance and capacity building linked to establishing the weather index insurance scheme. Participants framed the discussions as a step toward the official launch of the parametric insurance product in the Tanzanian market.
Tanzania Insurance Regulatory Authority 2025-07-28
Tanzania Insurance Regulatory Authority reviews progress with CRDB Bank and NIC toward launching weather index insurance for smallholder farmers
The Tanzania Insurance Regulatory Authority hosted CRDB Bank PLC and Tanzania’s National Insurance Corporation to advance the Tanzania Agriculture Climate Adaptation Technology Deployment Programme, focusing on a parametric insurance scheme for smallholder farmers. The meeting reviewed progress under a Memorandum of Understanding, addressing policy reforms, product design, and capacity building. CRDB Bank, supported by the Green Climate Fund, was identified as a key implementer for the weather index insurance scheme.