Feasibility Study on Climate Risk Insurance in Senegal
Droughts, floods, sea-level rise, and coastal erosion pose significant threats to Senegal's development objectives. Situated mainly in the Sahel region, the country experiences rising temperatures and highly variable rainfall, increasing dependence on food imports and challenging poverty and food security strategies. According to the ND-GAIN country index, Senegal ranks 31st among the most vulnerable countries and 165th worldwide in terms of its willingness to improve resilience. This implies high vulnerability and low preparedness, requiring urgent investment and innovation.
This study examines the growing impact of climate induced disasters on the agriculture sector in Senegal and explores financial gaps that could feasibly be filled through climate risk insurance solutions.