Latin America and the Caribbean

From extreme climate events to acute food crises, Latin America and the Caribbean (LAC) is facing growing threats to people’s livelihoods, economic activity and social progress. COVID-19 led to the most severe contraction in the region’s historical economic activity. In 2023, the region reported US$21 billion in economic damages largely due to storms and impacts on agriculture. Food security pushed 13.8 million people into an "acute food crisis".

UNDP is working with governments and industry across the region to build the understanding of and accessibility to financial solutions. Our initiatives integrate insurance into public policy and development frameworks, incentivise industry innovation, and create the enabling environment for insurance solutions to scale.