Kelera Ditaiki 
Kamikamica said parametric insurance could provide a faster financial lifeline.[PHOTO:SUPPLIED]
Deputy Prime Minister and Minister for Industries, Commerce and Business Development Manoa Kamikamica says climate risk finance must become part of efforts to strengthen Fiji’s rural economy.
Speaking at a Pre-COP session on Climate Risk Finance and Insurance for MSMEs at the Sofitel Resort and Spa in Nadi , Kamikamica said farmers in vulnerable areas were often forced to start again after losing crops and income.
He said Micro, Small and Medium Enterprises remain a major part of the economy, with previous estimates putting their contribution to GDP at around 18 percent.
The Minister pointed out that repeated climate losses can affect both business operations and household income, making it harder for farmers and small businesses to recover.
Kamikamica said parametric insurance could provide a faster financial lifeline when climate events trigger losses.
He said affordable insurance could give farmers and entrepreneurs greater confidence to invest, recover and continue operating after climate shocks.
Kamikamica acknowledged the UNDP Pacific Office in Fiji, UNCDF, ADB and Tower Insurance for developing Fiji’s dedicated parametric insurance solution for MSMEs.
The push comes as Fiji looks to strengthen financial protection for businesses and farmers exposed to increasingly costly climate-related disruptions.
