Publication

Feasibility Study on Climate Risk Insurance in Sierra Leone

  • December 04, 2023

Summary

The agriculture sector, including livestock and forestry, is a critical component of the economy of Sierra Leone. It employs about two-thirds of the labour force and contributes more than 60 percent of GDP.

However, Sierra Leone’s agriculture is constantly under threat from climatic fluctuations such as droughts, floods, and changing rainfall patterns – threats that are widely expected to increase as a result of climate change.

The following study examines the growing impact of climate induced disaster on the agriculture sector in Sierra Leone and explores financial gaps that could feasibly be filled through climate risk insurance (CRI) solutions.

By shedding light on the intricate interplay between demand and supply, this study aims to inform the 'Climate Risk Insurance' Programming under UNCDF's ‘Climate Agenda’ about the state of climate and risk insurance in Sierra Leone, with the ultimate goal of enhancing resilience and adaptation in the face of an increasingly uncertain climate future through targeted CRI instruments.