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Largest Weather Index Insurance Payout for Small Scale African Farmers Triggered by Satellite Technology
December 10, 2012 Editor 0
Boston, MA – Today Oxfam America and The Rockefeller Foundation announced a weather index insurance payout of unprecedented scale directly to poor farmers. Thanks to a groundbreaking new program that relies on advanced satellite technology, more than 12,200 farmers in 45 villages in Northern Ethiopia will benefit from drought protection. As a result of this year’s drought conditions each farmer will receive a share of the total $322,772 in payouts offered through the Horn of Africa Risk Transfer for Adaption Program (HARITA) to help cover crop losses.
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