Finance and insurance solutions Global Inclusive Insurance Facility (GIIF)

    Logo: Global Index Insurance Facility

    The Global Inclusive Insurance Facility (GIIF), formerly called Global Index Insurance Facility, is a dedicated World Bank Group programme which seeks to boost financial protection against climate and disaster risks. Initially, GIIF was part of the InsuResilience Global Partnership. The Global Shield against Climate Risks has been drawing on the experience gained through that Partnership, and GIIF now contributes to the goals of the Global Shield.

    Funded by the European Union and the Organisation of African, Caribbean and Pacific States (OACPS) together with Germany and the Netherlands, GIIF has so far facilitated more than 15 million contracts covering about 75 million people, primarily in sub-Saharan Africa, Asia, Latin America and the Caribbean.

    GIIF provides targeted support to expand inclusive insurance against climate and disaster risks in order to better protect vulnerable people against extreme weather events such as droughts, floods and heavy rainfall. Through index-based insurance and risk transfer solutions, GIIF facilitates access to finance for smallholder farmers, micro-entrepreneurs and microfinance institutions.

    Index-based insurance differs from traditional insurance policies. Payouts are not based on the filing of individual claims but are made automatically as soon as specific weather data (relating, for example, to temperature or rainfall levels) exceed or fall below a pre-determined threshold. This enables assistance to be disbursed quickly without a lot of paperwork.

    GIIF's strategy for building sustainable index insurance markets is based on a comprehensive approach that consists of four key elements:

    1. Financial education. GIIF uses local media for public education on index insurance for farmers, small businesses, microfinance institutions, banks, distributors, and other interested parties. The education programmes give special attention to the needs of women and foster women's access to insurance products.

    2. Capacity building and market development. GIIF provides grants to research institutions, brokers and non-governmental organisations to build the capacity of local insurers. This support includes training and feasibility studies.

    3. Technical advice. GIIF supports the development of appropriate index insurance products, providing advice on pricing, among other things. It also supports the use of digital technology to make it easier and cheaper to access insurance products.

    4. Public policy dialogue. GIIF actively engages in public policy dialogue at both national and regional level to establish the requisite political and legal environment for inclusive agricultural index-based insurance products.

    As at: 30/09/2026