During November 2019, Europa RE signed two Grant Agreements with InsuResiliance Solution Fund (ISF) for implementation of the macro and mezzo insurance programs in North Macedonia and in Serbia, which will be financed equally in total amount of EUR 1mm. The ISF is created by KfW, the German Development Bank, on behalf of the German Ministry for Economic Cooperation and Development (BMZ). Their overall objective is to contribute to the adaptation to climate change by improving access and the use of insurance in developing countries through reducing the vulnerability of micro, small and medium enterprises (MSME) as well as low-income households to extreme weather events.

Both projects aim to provide financial protection on the agriculture sector, against natural disasters (index-based model) and protect the poor and vulnerable beneficiaries in the countries, on macro level in North Macedonia (sovereign model) and on mezzo level in Serbia (through municipalities). Our partners are Globos Insurance Company in Serbia and Insurance Supervision Agency in N. Macedonia. The projects should be implemented in 2-year period.