Overview

The fifth-largest island in the world, Madagascar is one of the countries in Africa most severely impacted by climate change. Cyclones, flooding, tsunamis and drought pose risks for the important agriculture and tourism sectors and for the small businesses that form the backbone of the country’s economy. Insurance and risk finance can help provide protection against these hazards.

In Madagascar, UNDP’s Insurance and Risk Finance Facility is partnering with government, international organizations and industry stakeholders to improve institutional capacity for insurance market development and risk finance.

Main Natural Hazards

Cyclone, Flood, Tsunami, Drought

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1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
State of multidimensional fragility

Fragile

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1 Source:
https://www3.compareyourcountry.org/states-of-fragility
Number of insurance providers

5 insurance companies

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1 Source:
https://irff.undp.org/sites/default/files/12-madagascar.pdf
% Workforce engaged in agriculture

70% (2022)

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1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS
Multidimensional poverty

65.7% (2021)

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1 Source:
https://hdr.undp.org/system/files/documents/hdp-document/2023mpireporten.pdf
Insurance penetration

1% (2023)

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1 Source:
https://gcrratings.com/wp-content/uploads/2023/02/Insurance-Sector-Risk-publication-20-February-2023.pdf
Biodiversity ranking

#28 out of 239 countries and territories (2023)

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1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Small business % contribution to workforce

90% of total employment (2017)

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1 Source:
https://www.uncdf.org/download/file/127/2505/madagascar-youth-economic-opportunities-ecosystem-studypdf#:~:text=Selon%20l'Institut%20national%20de,90%20%25%20des%20emplois%20%C3%A0%20Madagascar.

Our projects

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