World Bank offers poor nations pay-outs over drought

World Bank offers poor nations pay-outs over drought -

By Shaun Benton

Cape Town - The World Bank has introduced a new financial instrument to offer poor, agriculture-dependent developing countries a form of risk-management in the event that they are stricken by drought.

This financial instrument is part of a plan being introduced by the World Bank to use the weather derivatives market to reduce the impact of drought on the world's poorest nations if they are hit severely, the Bank said.

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[SADC News]