A landmark step was taken on Friday in Saint Lucia’s agricultural sector with the official signing of the island’s first-ever parametric insurance scheme for banana and plantain farmers. The initiative, backed by a $1 million allocation from the government, promises fast, automatic payouts to farmers in the event of extreme weather like hurricanes or tropical storms.
SAINT LUCIA LAUNCHES FIRST PARAMETRIC INSURANCE SCHEME FOR BANANA AND PLANTAIN FARMERS.
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