To begin our March edition, we would like to express our deep concern about the current outbreak of the coronavirus in many countries around the world. This unexpected global pandemic is bringing rigorous challenges to our daily work and life. The RFILC Editorial Team is writing a short opening message of solidarity and encouragement to you, in the hope that you and your loved ones are in good health.
First of all, we would like to present a recent study issued by the Food and Agriculture Organization of the United Nations (FAO), : “Agricultural finance and the youth, prospects for financial inclusion in Uganda”. This study provides a comprehensive assessment of the current state of financial inclusion of the rural youth in Uganda, with a specific focus on their engagement in the agricultural sector and the financial services that are available to them to pursue their business ventures in this area. The study seeks to illustrate and bring to light the core constraints and opportunities associated with the provision of tailored financial services to young agricultural entrepreneurs in the country, while showcasing the essential role that key support actors (such as the Government, Central Bank, international development institutions, NGOs, foundations and many others) can play in fostering the provision and uptake of such services.
Secondly, we would like to draw your attention to some efforts made by FAO to promote introduction of third party liability insurance coverage for fishing vessels in the Caribbean region, which resulted in a new publication “Compulsory insurance (third party liability) requirements for fishing vessels”. Fishing is amongst the most dangerous occupations in the world. Many fisher folk who get an accident during their working life, cannot work for some time or end up disabled. This creates financial and social hardship for these fishers and their families. Introduction of third party liability insurance will protect boat owners and crew of fishing vessels, reduce the vulnerability of fishers and their families to shocks caused by accidents in fishing, and will contribute to sustainable fisheries livelihoods. This paper claims that such insurance contributes to improving the working conditions of fishers, their safety and to responsible fishing practices.
Finally, we are delighted to invite you to “Global Forum on Remittances, Investment and Development”, which will take place in Nairobi, Kenya from 5-to7 October. This Forum is jointly hosted by International Fund for Agricultural Development, African Union and the World Bank. The three-day forum will focus on opportunities and challenges in the African remittance market, and the impact these flows can have on the sustainable development of migrants' communities of origin. It will also explore how innovation and technology in the market can lower remittance transfer cost and promote greater financial inclusion. Over 400 high-level participants from governments, central banks, the private sector, multilateral organizations and the civil society are expected to attend. To register, please, click here.
Please keep well and safe, and take care of yourselves, your families and friends.
The Rural Finance and Investment Learning Centre is a part of the CABFIN Partnership Project which aims to promote and facilitate capacity building in rural finance. The concerns of rural finance are to ensure that people living in rural areas have access to financial services such as deposit and money transfer facilities, insurance and loan products. Effective use of these services can help to improve livelihoods and reduce rural poverty. The following CABFIN Partners have provided financial support to the RFILC: