Colombia and the United Kingdom will allocate $17.4 billion to create insurance on cocoa trees

The Minister of Agriculture and Rural Development, Rodolfo Zea Navarro, together with the UK Ambassador to Colombia, Colin Martin Reynolds, announced the launch of a pilot project to design a specialized modular insurance for the cocoa sector in Colombia, which will include an investment of $17,000 million to connect 5,000 small cocoa farmers in Colombia In principle.

“With the British Embassy, ​​we are looking for alternatives to benefit Colombian cocoa farmers by reducing operational and administrative costs using new technologies and innovative monitoring systems, such as satellite maps, remote sensors, etc., which allow us to give real solutions and facilitate access to these tools,” said the Minister Zia Navarro.

#agenda – Minister Tweet embed meet with Tweet embed Ambassador Tweet embed To promote sustainable development in the regions, strengthen trade links between Colombia and the United Kingdom and increase the productivity of cocoa crops pic.twitter.com/6aKfLqXkdP

– who. Agriculture (MinAgriculture) September 21, 2021

For his part, the UK Ambassador to Colombia, Colin Martin Reynolds, said, “We are pleased to announce this pilot project to design a solution for the country’s most vulnerable cocoa trees. Through this tool, we want to give them the possibility to better prepare for events related to climate change and other risks. “. He also noted that this alliance between the Prosperity Program, the Ministry of Agriculture and Rural Development and the Vinagro Corporation seeks to create comprehensive, innovative and affordable insurance for all cocoa farmers, especially women producers in the country. “

The launch of the pilot Standard Insurance Program is the first action of a Memorandum of Understanding signed between the UK Secretary of State and Minister for the Pacific and the Environment, Lord Goldsmith, and Colombia’s Minister for Agriculture and Rural Development, Rodolfo Zea Navarre.

It should be noted that the memorandum of understanding was signed in order to promote the development of technical cooperation programs in the agricultural sector with the aim of encouraging efficient and sustainable agricultural production, inclusive economic growth, poverty reduction, and creating new job opportunities between the two countries. Countries.

Finally, Minister Zia Navarro emphasized that the cooperation between MinAgicultura de Colombia and the UK Prosperity Program in Colombia has made it possible to support small-scale cocoa producers, provide solutions to improve productivity, with greater technical knowledge and create opportunities for more than 52,000 rural families from 400 municipalities in Colombia.

The Prosperity Program pilot is seeking the Advisory Council on Green Finance (CCFV), as an implementing partner, seeking to adapt UK-developed technologies to Colombian producer systems, in order to provide real and accessible solutions.