Area Yield shortfall guarantee Projects are macro and mezzo insurance programs financed by the InsuResilance Solution Fund and Europa RE, equally in amount of EUR 1mm. The duration of both projects is 2 years (stared in January 1, 2020). The main idea of the Projects is to transform the concepts into products through reaching poor and vulnerable beneficiaries. The estimated poor and vulnerable beneficiaries reached after the project implementation is ~1.8 million.

1. The Project in N. Macedonia is a macro level sovereign agriculture program which provides a sovereign financial protection on the agriculture sector against natural disasters (the model is based on budget protection, indexed based model) especially to poor and vulnerable beneficiaries. The objective is to increase the degree of financial protection against weather related perils among farmers. Europa RE local partners for implementation of this project in N. Macedonia are Ministry of Agriculture, Forestry and Water Economy and Insurance Supervision Agency.

2. The Project in Serbia is a meso level municipal Area Yield Insurance program which provides Financial protection of the poor and vulnerable beneficiaries in the municipalities against natural disasters (index-based model). The objective is to Increase the degree of financial budget protection against weather related perils amount municipalities. Europa RE local partner for implementation of this project in Serbia is Globos Insurance Company.