One of the world’s biggest challenges is to feed our population, which is expected to grow to almost ten billion people by 2050. The challenges that food producers face have increased rapidly over the past years. These include climate change (i.e. rise in occurrences of extreme precipitation events and more intense and prolonged droughts); regionally varying changes in the severity of damage caused by outbreaks of pests; loss of agricultural biodiversity; land degradation, and more.
The roughly 500 million smallholder farmers globally, accounting for ca. 40% of the global food supply, are located largely in regions with a very high proportion of unbanked people. They need financial services to protect their livelihoods and ensure continued output. The most needed financial services include insurance against crop failure, loans to purchase agricultural equipment and fertilizer and pension products.
Geodata helps us to analyse and forecast key factors like extreme weather events and crop yields, that allow financial services providers (i) to better understand where services are most needed and assess the risk of their loan and insurance portfolios better and (ii) to develop more suitable products for the farmers.
Lets explore together how we can use satellite data to enable tailored financial services for smallholder farmers to ensure their livelihoods and the global food supply.” In what way do loans have to be tailored to be no burden for the farmer (think of re-payment before harvest for example) while ensuring the highest repayment for the FI?
🛰️ EU space technologies
🏦 Space for the Financial World
With this team we addressing Challenge #2: Innovating financial tools and technologies
Podcast: Catalysing Inclusive Finance - https://g4aw.spaceoffice.nl/en/resources/podcast/159/episode-iii.-catalysing-inclusive-finance.html