The poor and low-income people of coastal areas are more vulnerable due to the exposure to various shocks originated from illness, unexpected death, asset or property loss, natural calamity/disaster etc. which causes vicious problems that drastically reduce the assets of poor and low-income households, eliminate their income sources and reduce daily consumption. To sustain with the shocks, these households borrow from various sources, withdraw their savings, or sell their assets. As a result poor people remain trapped in the vicious circle of the poverty. NGF has strongly perceived that addressing risk mitigation needs of the poor are essential for its poverty alleviation drive. NGF also deemed that inclusive insurance services for the poor could be a viable risk management option that can help the poor and low-income households to recover from various poverty circle. Considering this reality, the project has started with the financial support of PKSF which was financed by Japan Fund for Poverty Reduction (JFPR). After closing the grant support, since 2015, the project is successfully continuing through the organizational own capacity.
Objectives of the projects:
- Extend and Increase affordable insurance services for the low-income people of Bangladesh.
- Decrease unexpected expenditures or resulting loss of assets, to cope with risks of poor households
- Extend insurance awareness campaign and training to low-income households in order to enable them familiar with the insurance concept, formal and informal risk coping mechanisms.
- To reduce vulnerability and improved welfare of the poor people through access to affordable risk mitigation services.
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