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THE WORLD BANK GROUP has floated a tender for Feasibility Study on Risk Finance Instrument for the Regional Food Security Reserve (RFSR). The project location is USA and the tender is closing on 17 Aug 2023. The tender notice number is , while the TOT Ref Number is 86592144. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : USA
Summary : Feasibility Study on Risk Finance Instrument for the Regional Food Security Reserve (RFSR)
Deadline : 17 Aug 2023
Other Information
Notice Type : Tender
TOT Ref.No.: 86592144
Document Ref. No. :
Competition : ICB
Financier : International Bank for Reconstruction and Development (IBRD)
Purchaser Ownership : Public
Tender Value : Refer Document
Purchaser's Detail
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Login to see detailsTender Details
Tenders are invited for Feasibility Study on Risk Finance Instrument for the Regional Food Security Reserve (RFSR)
The World Bank-s Food System Resilience Program (FSRP) is a large regional investment project to increase preparedness against food insecurity and improve the resilience of food systems in participating countries. Within FSRP-s project components; risk financing activities aim to strengthen the capacity of ECOWAS Regional Food Safety Reserve (RFSR) to respond to food crises with an innovative finance arrangement as a backstop to the reserve. The complex set of food system risks that affect the region have displayed the need to proactively manage risk and strengthen financial resilience to agri-food systems shocks through regional coordination. Several ex-ante and ex-post agriculture and food security risk management and risk finance initiatives exist in West Africa at country and regional levels. The RFSR responds to food insecurity induced by wider source of food crisis: agro-climatic shocks; conflicts or socio-political crises; health crisis (Ebola; Covid-19); sudden-onset food price shock (e.g.; 2008 food crisis; dramatic rise of prices for agricultural inputs due to supply chain disruption). Thus the need to assess the feasibility of a risk transfer solution that will be designed and implemented to trigger timely payouts/contributions to the regional reserve for food insecurity events before escalating into major crises in order to enhance resilience of the regional reserve against the food insecurity risks.
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