Europa Re has developed a pilot scheme on credit risk product for Kazakhstan. The product will protect the lenders against the risk of default by the borrowers (agricultural producers) in case of adverse weather conditions which cause a drop-in yield in the insured area below a certain level typically 60-70 percent of a three- year historic average. Reduced collateral requirements (up to 60% of the principal amount) allow credit organizations to increase the loan portfolio and provide financing to a greater number of agricultural producers, who previously did not have access to finance. The insurance program is designed for 48 districts. The first sales started in March 2019.