In light of the ongoing COVID-19 pandemic, a
holistic approach on disaster relief and preparedness seems more vital than
ever in order to compensate in direct effects on economic development and
growth of ODA countries. Thus, the ISF especially welcomes project concepts
targeting the sectors most vulnerable to effects of the pandemic, such as
critical infrastructure, emergency relief and financial support of (M)SMEs.
Funding Information
The ISF provides grant-based co-funding of up to
2.5m EUR only to Partnerships consisting of public and/ or private
organizations
- which want to
- develop new climate risk
insurance products, especially for governments or
- scale-up already existing
products, e.g. into other regions or to other groups
- in order to
- increase the resilience of
poor and vulnerable people in developing countries to climate change
- where at least one partner is
- representing the demand and
needs of end-beneficiaries (e.g. national or regional government bodies,
NGOs, local insurers
- willing to act as a risk taker
(e.g. reinsurance company)
- located in the target country
- which provide an own
contribution
- matching the grant funding
(in-kind and/or as financial contribution, including funds from their own
resources and co-financing2)
Target Countries and
Groups
Focus on poor and vulnerable households (< 15
USD PPP per day) either directly (through micro-level insurance) or indirectly
(through meso- or macro-level solutions).
Countries in Asia and the Pacific, Africa and
Latin America which are eligible to receive official development assistance
(ODA) as defined by the OECD Development Assistance Committee and are
vulnerable to extreme weather events.
Nevertheless, countries that are official
candidates for accession to the European Union or beneficiaries of the European
Neighborhood Instrument East are considered to be non-eligible for ISF funding.
These include: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina,
Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Turkey and
Ukraine.
Eligible Items
Examples for cost items eligible for funding
- Development of new risk /
hazard models
- Technical product design incl.
actuarial risk characteristics
- Data collection and equipment
- Policy terms and pricing
- Legal costs, e.g. for the
identification of a suitable implementation structure
- Sales and distribution channel
development
- New technologies for product
improvement and scale up
Criteria
The insurance product covers at least one of the
following perils:
- flood, wind / storm, excess
rain, drought/ heat waves, cold spells (a combination with other perils is
possible).
- The project has a lifespan of
up to 24 months / the product is ready for market placement and launch
within 24 months after funding approval.
- A work, budget and time plan
containing reliable cost estimations exist.
- Relevant experience of
implementing partners, reference project exist.
- Funding is requested for
product development related costs (e.g. data collection, IT, risk
modeling, etc.).
Post Date - 27-Oct-2020