BAKU, Azerbaijan, February 25. The current conditions in the context of climate change amid various anomalies or unusual rain, hail, and other natural phenomena observed in recent years urge the expansion of the agrarian insurance system's development, Elshan Aghayev from Azerbaijan's Media Development Agency said at an event themed "Agricultural Insurance in Azerbaijan: Development and Prospects" today, Trend reports.
He pointed out that agriculture is a key player in the economic game of the country, serving as the backbone for food security, driving economic development, and providing jobs for the masses.
"This sector is an open-air production area and always carries various risks. Especially in recent years, in the context of climate change, the various anomalies we have observed, such as unconventional rainfall, hail, and other natural events, make the development of the agricultural insurance system essential.
In this regard, very successful activities have been carried out in the last five years. A legal framework has also been established for this.
The expansion of these opportunities creates conditions for farmers to protect themselves and insure against risks. This plays a key role in ensuring their stable income. In this regard, the fact that half of the costs are covered by the state is also important," Aghayev added.
To note, an event centered on "Agricultural insurance in Azerbaijan: development and prospects" is being convened in Baku, Azerbaijan. The objective of the gathering is to engage with media stakeholders and press representatives, disseminate information regarding the operational initiatives of the Agricultural Insurance Fund, and encapsulate the outcomes of the fiscal year 2024.
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