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 invest $17,000 million to initially connect 5,000 small cocoa farmers in Colombia.

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

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. “.

In addition, he noted, “This alliance between the Prosperity Program, the Ministry of Agriculture and Vinagro, 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 the Minister for Agriculture of Colombia, Rodolfo Zea Navarro.

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 and to encourage efficient and sustainable agricultural production, inclusive economic growth, poverty reduction, and the creation of new trade opportunities between the two countries. Countries.

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Finally, Minister Zia Navarro emphasized that the collaboration between the Colombian Ministry of Agriculture and the UK Prosperity Program in Colombia has made it possible to support small-scale cocoa producers, providing solutions to improve productivity, while increasing technical knowledge and generating opportunities for more than 52,000 rural families from 400 municipalities in Colombia.

The Prosperity Program pilot program, of which the Advisory Council on Green Finance (CCFV) is its implementing partner, It seeks to adapt technologies developed in the UK to the systems of Colombian producers, to provide real and accessible solutions.

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