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Introduction
United Nations Capital Development Fund (UNCDF), the UN’s flagship catalytic blended financing platform, supports market development by enabling access to finance in high-risk environments through financial instruments, mechanisms, and advisory services. With a unique mandate, UNCDF blends and deploys grants, loans, and guarantees alongside related advisory support.
The overall objective is to develop a parametric insurance product for addressing the health hazards and lowered productivity of RMG workers faced due to climate change (namely extreme heat, extreme wind, extreme rain, flood and drought and geo hazards such as earthquakes, tsunami) in Bangladesh through a blended finance approach. The product will also address the financial and technical limitations of Insurers and Financial Service Providers (FSPs) in Bangladesh faced in developing and offering climate-linked microinsurance products that effectively cater to the needs of garment workers. At a secondary level, the objective includes the development of a near real-time extreme weather monitoring system leading to timely insurance claim monitoring and rapid payouts.
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UNCDF PROCUREMENT UNIT
Documents :
Negotiation Document(s)
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