In 2022, a project to enhance the financial resilience of flood-prone communities in Ghana was launched under the Tripartite Agreement, led by the Ghana Ministry of Finance, UNDP’s Insurance and Risk Finance Facility, and the Insurance Development Forum, with funding support from the Federal Ministry for Economic Cooperation and Development (BMZ) through the InsuResilience Solutions Fund (ISF). After two years of development, the project delivered two parametric insurance products: the Excess Rainfall Cover and the Flood Footprint Product. These innovative solutions offer faster payouts based on parameters like rainfall levels and flood severity, allowing communities in vulnerable areas, especially in Greater Accra Metropolitan Area (GAMA), to recover quickly after flood events, positioning Ghana as a leader in urban flood risk adaptation.
The submission of a comprehensive technical report to the Government of Ghana at the end of 2024 signified the completion of the project. The full report is available here:
Managed by Frankfurt School
GRMA hosted by ISF
