SEADRIF, together with Food and Agriculture Organization of the United Nations (FAO), Cambodian Government, and key public and private sector stakeholders, held a consultation workshop for the Regional Agricultural Risk Finance Facility (ARFF) in Phnom Penh on August 21. This consultation was part of a broader regional effort involving six ASEAN countries to explore the establishment of an agricultural risk finance facility aimed at addressing challenges in the region’s agriculture sector.
SEADRIF’s Implementation and Program Development Specialist, Shannen Nicole Chua, presented on the ARFF concept note and its alignment with existing insurance products, highlighting how the facility could strengthen financial resilience in Southeast Asia’s agricultural sector. During the workshop, participants raised affordability (for farmers, government, and private sector) as a key concern in agriculture insurance. The government also underscored the importance of ensuring there are tangible benefits to the farmers, particularly in ensuring their resilience to the risks posed by climate and disaster events.
SEADRIF is encouraged by the momentum fostered by these consultations, as advancing agricultural risk financing is critical to protecting vulnerable communities, stabilizing rural economies, and fostering long-term climate resilience across Southeast Asia. SEADRIF is committed to working closely with partners and clients to realize the joint vision of the regional ARFF.