Agricultural Risk Management Platform to be launched at IFAD

Rome, 2 December 2013 – The Platform for Agricultural Risk Management (PARM) will be launched today at the headquarters of the International Fund for Agricultural Development (IFAD). This four year initiative is supported by the Agence Française de Développement (AFD), the European Commission (EC), the Government of Italy, the New Partnership for Africa’s Development (NEPAD) and IFAD. The PARM Secretariat, with a core funding of Euro 5.95 million, will be hosted at IFAD and will initially focus on 8 countries in Africa. PARM is an outcome of the G8 and G20 discussions on food security and agricultural growth.

Smallholder farmers in developing countries face a variety of risks on a daily basis, from unpredictable weather to erratic market prices. Most do not have access to risk management instruments, such as insurance, that are available to farmers in developed countries.

In recent years, high risk exposure to climatic events in agriculture has been on the political agenda of both industrialized and developing nations. PARM aims to identify, assess, and quantify agricultural risks in partner countries and develop strategies to tackle those risks which can then be incorporated into policies and investment plans of partner countries. It will also work to increase the knowledge of all stakeholders on agricultural risk management and foster a better exchange of experience between all practitioners. PARM will also endeavour to improve the collaboration between public and private sectors and academia, to create strong public-private partnerships.

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