Farmers Get Insurance against Natural Disaster Losses

Farmers Get Insurance against Natural Disaster Losses

As of Tuesday, Albanian farmers can insure up to 100% of their production in cases of floods or natural disasters. For the first time, some 757 farmers from all over Albania are under the protection of an insurance company that will protect them and pay a compensation in cases when their greenhouses are damaged by weather conditions.
The agreement was signed on Tuesday in Krutje village in Lushnja between the farmers and the insurance companies. Minister of Agriculture Edmond Panariti that insurance schemes are the only ways for facing natural disasters especially in the agricultural sector, which has proven to have key importance for the Albanian economy.
Minister Panariti added that greenhouses insurance is the first step of the initiative, which aims at including in the scheme even the insurance of farmers’ equipment and livestock
“The Ministry has drafted a law according to which all the farmers that are going to make considerable investments in the agricultural sector, have to get their activity insured. Albania was granted the support of the European Bank for Reconstruction and Development (EBRD). It offered Euro 60 million loan while the Albanian government provided Euro 15 million,” Minister Panariti said.
The initiative for insuring farmers’ production is a necessity following the natural disasters and floods that hit Albania during the recent years.

News Source/ Photo Credit: ATA


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