The Bayer and Pula foundations have announced a commitment to provide insurance coverage for 10 million smallholder farmers in sub-Saharan Africa and south Asia by 2030.

Announced at the World Economic Forum, the collaboration aims to build private-public partnerships and enhance climate resilience among smallholder farmers, protecting them against the growing impacts of droughts and floods, which threaten harvests, livelihoods, and global food security. A grant of €10 million ($10.4 million) from Bayer—supported by a donation from Bayer’s Crop Science Division—will unlock insurance coverage of up to $127 million for farmers working with national governments in Bangladesh, Pakistan, Malawi, Ghana, Nigeria, Kenya, and Mali.

The Pula Foundation has developed scalable and data-driven agricultural insurance solutions designed to safeguard smallholder farmers’ investments in their farms. By mitigating risks associated with extreme weather events such as droughts and floods, the Pula Foundation ensures that farmers receive financial compensation for yield losses, enabling them to recover, reinvest, and rebuild.

“Climate resilience is not just about recovery but also about dignity and empowerment. We believe that insurance enables smallholder farmers to prepare themselves for an increasingly volatile climate, rather than waiting for handouts,” said Pula Foundation director Rose Goslinga. “This partnership with Bayer Foundation will enable us to expand our reach and ensure that millions more farmers can secure their livelihoods.”

(Photo credit: Getty Images/mantosh)