As part of its ongoing climate resilience and disaster preparedness strategy, the Government of Grenada has paid $1,050,000 XCD in crop insurance premiums to protect the countryโs vital nutmeg and cocoa industries. The payment, made to regional insurance provider CORP-EFF Insurance Co. Ltd, covers farmers under the Grenada Cooperative Nutmeg Association (GCNA) and the Grenada Cocoa Association (GCA) ahead of the 2025 hurricane season.
Representatives from both commodity boards confirmed the transaction earlier this week.
This strategic move underscores the governmentโs continued commitment to disaster preparedness and climate resilience, with a strong focus on protecting vulnerable sectors and securing the livelihoods of farmers across the island.
Minister for Agriculture, Lands and Forestry, Hon. Lennox Andrews, emphasised the significance of the initiative, noting that it reflects the governmentโs dedication to encouraging farmers to remain in agriculture, even amid the uncertainties of the hurricane season.
โThe government is ensuring that our farmers are not left alone in times of crisis,โ Minister Andrews stated. โThis coverage is designed to give them the confidence to keep producing, knowing that their efforts and their livelihoods are protected.โ
He further noted that the insurance will serve not only as a safety net, but also as direct income support and crop reinvestment should farmers experience significant losses during the 2025 hurricane season.
This proactive measure follows a similar investment made in June 2024, mere days before the passage of Hurricane Beryl, when the government paid over $1 million XCD in crop insurance premiums. Following the storm, CORP-EFF paid out $3.8 million XCD, which formed part of the $9,076,500 XCD disbursed to more than 3,500 nutmeg and cocoa farmers across the island through organised cheque distributions.
According to Minister Andrews, โThis payment is not just an investment in agriculture โ itโs an investment in the resilience of our people. This is our way of safeguarding food security and securing peace of mind for our farmers. Together, we are building a more resilient Grenada.โ
The Government of Grenada remains unwavering in its support for the agricultural sector and stands in solidarity with farmers throughout the 2025 season.
