MiCRO GIIF

completed

The project will provide MiCRO with a performance based grant to offset the initial high premium costs to microfinance clients in Haiti. The two part project was designed based on a joint appraisal by a regional and global specialist team. I. Performance-based Grant A performance-based grant of up to US$1.7 million will be provided to a reinsurance facility to offset initial high premium costs to clients. Tranche disbursements will be linked to milestone targets to ensure performance, including number of people insured and/or value of premiums due to the reinsurance facility. The grant will enable the MFI distributor, Fonkoze to subsidize up to 50% of the client premiums, which will be progressively scaled down in years 2 and 3 of the project. II. Advisory Services: 1. Redesign of microinsurance product offered by MiCRO to MFIs. a. Revision of parametric (catastrophic, weather-based) product parameters. b. Redesign of Fonkoze microinsurance product offered to microinsurance clients. 2. Support in expansion to additional MFI distribution channels.