Green Delta Insurance Company Limited has declared an amount of Tk150,000 for farmers in the Haor area under its Index-Based Crop Insurance.
A total 316 Boro farmers of Tahirpur in Sunamganj Haor were already insured under Index-Based Crop Insurance, from April 28 to May 22, when cyclone Amphan hit Bangladesh on May 20, read a press release.
Farmers in the Haor area observed heavy rainfall in the last three days of their insurance policy coverage which entitled them to receive the claim amount. This payout will definitely help the Amphan-hit farmers to some extent, the company said.
While the spread of Covid-19 pandemic has impacted the lives of every walk, and heavily challenged all businesses and their operations, Green Delta has stepped forward to support marginalised farmers through the claims they have recently declared.
Oxfam Bangladesh and Sancred Welfare Foundation (SWF) are partners in the initiative.
Bringing Haor farmers under the crop insurance coverage on a pilot basis has been successful, Green Delta said.
Index-Based Crop Insurance can be a significant risk-mitigating tool for the poverty-stricken farmers and can make them financially strong through it, the company added.
That day is not far away when every farmer will be under the shade of insurance to strengthen the infrastructure and the economy, it said.
This initiative came in response to the recent direction of Prime Minister Sheikh Hasina, under the supervision of the Financial Institutions Department of the Ministry of Finance, to stand by farmers who are at risk of financial loss in the flood-prone Haor areas.