The 6th Call for Proposals is open now!
You are planning to develop a climate risk insurance project and look for financial support?
Apply for ISF co-funding of product development costs and submit your Concept Note until Friday, 17 December 2021, 23:59 CET to info@insuresilience-solutions-fund.org.

ISF window for agricultural insurance projects under 6th CfP

Climate risk insurance is an important instrument complementing risk reducing adaptation measures to mitigate the impacts of extreme weather events on agricultural production and food safety.

With the 6th Call for Proposals the ISF wants to highlight the importance to adopt climate smart agricultural practices (CSA) and thus foster the much needed transformation of the agricultural sector in our partner countries.

In order to strengthen this important link and emphasise potential co-benefits of agricultural insurance on the adoption of CSA practices, ISF invites project partners to submit innovative proposals for climate risk insurance products complementing climate smart agricultural practices under a separate window established specifically for its 6th Call for Proposals (CSA window).

Proposals in the area of agricultural insurance need to fulfill the following additional criteria:
Agricultural insurance solutions proposed under the 6th CfP should identify and leverage linkages to CSA by

1. complementing other agricultural risk reduction policies and measures planned or being already in implementation (e.g. sustainable water management practices, organic production, use and promotion of drought resilient crops, etc.)

AND

1. creating co-benefits and outputs in support of sustainable agricultural practices (e.g. offering access to extension services on climate-smart / sustainable agricultural practices, early warning or weather information systems, etc).

AND / OR

1. incentivising transformational change in the agricultural sector (e.g. insurance solutions incentivising risk diversification and transformational change by supporting access to loans for adaptation investments, access to training or know-how transfer on product diversification and/or sustainable land management, etc.).

PLEASE NOTE:
General ISF funding criteria remain valid also for this specific CSA window (see: items eligible for grant-based funding under Pillar III). Therefore only costs directly or indirectly linked to the development of the specific climate risk insurance product may be co-funded by ISF.

All documents relevant for the application process and further guiding documents are published here.

For any questions, please do not hesitate to contact us via info@insuresilience-solutions-fund.org.

Terms of funding

The ISF provides grant-based co-funding of up to EUR 2.5m only to Partnerships consisting of public and/ or private organisations

1) which want to

• develop new climate risk insurance products, especially for governments or
• scale-up already existing products, e.g. into other regions or to other groups

in order to
increase the resilience of poor and vulnerable people in developing countries to climate change

2) where at least one partner is

• representing the demand and needs of end-beneficiaries (e.g. national or regional government bodies, NGOs, local insurers)
• willing to act as a risk taker (e.g. reinsurance company)
• located in the target country and legally authorised to sign a potential Grant Agreement

3) which provide an own contribution

• matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing²)

Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.

In case of applying, please bear in mind that the grant-based co-funding of up to EUR 2.5m does not include your own contribution.
Hence, the formula is as follows: ISF grant + own contribution = total project costs.

If you require more information on the criteria to receive financial support by ISF, please refer to the Funding Criteria.

If you require more information on cost items eiligible for grant-based funding, please refer to the Eligible & Ineligible Measures.

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1) Lower rates may apply if state organisations/ public entities or none profit organisations provide the most part of the contribution.
2) Co-financing can be sourced from other public donors, but may not include any resources from funders of the InsuResilience Solutions Fund.