Baku hosts international agrarian insurance forum on “Agricultural Insurance Umbrella Against Risks”
An international forum on “Agricultural Insurance Umbrella Against Risks” was held at Baku State University (BSU) within the framework of the 19th “International Agricultural Week – Caspian Agro Week” held in Baku. The forum discussed the damage caused to agriculture by climate change and the importance of the agrarian insurance mechanism in managing these risks.
In his speech, Baku State University Rector Elchin Babayev touched upon the importance of agrarian insurance: “Hail, mudslides, floods, droughts, frost, strong winds, pests and climate changes can seriously damage a farmer’s long-term hard work in a short time. Therefore, risk management and farmer protection in the agricultural sector are of particular importance. Agrarian insurance is an important security mechanism in this regard,” the rector emphasized.
Minister of Agriculture Majnun Mammadov said that, as in the whole world, climate change affects the agricultural sector the most in Azerbaijan. In order to insure these risks and protect agriculture from the consequences of climate change, an agrarian insurance mechanism has been created in our country. The Minister noted that agrarian insurance, being an important mechanism created by the state to support agriculture, not only covers the losses incurred by farmers, but also ensures the stability of the incomes of agricultural producers and forms a favorable investment climate in the field.
Chairman of the Board of the Agrar Insurance Fund (ASF) Fuad Sadigov emphasized that the agrarian insurance mechanism has become a serious tool to reduce the impact of climate change on agriculture: “In April alone, 8 thousand hectares of land were damaged as a result of floods and inundations in the northern regions. This fact proves that agricultural production is no longer sustainable, but is under constant risk.”
In the first panel of the forum, entitled “Shared Risks, Shared Solutions: Agrarian Insurance Model,” Nasar Hayat, Director of the Food and Agriculture Organization of the United Nations (FAO), and Muratjan Achilov, Director of the Agrarian Insurance Fund of Uzbekistan, emphasized the impact of climate change on food security and the importance of regional cooperation. It was noted that disasters have caused about $4 trillion in damage to the global agricultural sector over the past 30 years, which is 5% of the world’s agricultural GDP.
During the second panel discussions, Murad Jamalov, an official of Azercosmos, presented information on the application of satellite monitoring technologies in insurance expertise, Gulnara Abbasova, Deputy Head of the National Hydrometeorological Service, presented information on the forecasting of climate and extreme weather events, and Farda Imanov, Professor of BSU, presented information on the impact of climate change on Azerbaijan’s water resources.
The forum concluded with active discussions, answering students’ questions, and a briefing for media representatives.
