Poor Ethiopian farmers receive 'unprecedented' insurance payout
Wednesday, December 12, 2012 - 09:01
in Earth & Climate
Last week, 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, known as HARITA, to help cover crop losses.