Regional Risks to Agriculture in West Africa : Agricultural Risk Impacts, Management Measures, and Financing Mechanisms Through a Regional Lens
Agriculture is an increasingly risky business in much of the world, including the West African region. The World Bank has developed an Agricultural Risk Management (ARM) framework that assesses risks in systemic production, markets, and enabling en...
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| Format: | Report |
| Language: | English |
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Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099110103302268898/P1729410f83deb00c0adc40fa4cea21d33b http://hdl.handle.net/10986/37303 |
| Summary: | Agriculture is an increasingly risky
business in much of the world, including the West African
region. The World Bank has developed an Agricultural Risk
Management (ARM) framework that assesses risks in systemic
production, markets, and enabling environments to understand
their total sectoral impacts and to prioritize them.
Prioritizing risks improves targeting of risk management
measures so that scarce resources can be allocated where
they have the most impact. It also helps identify how to
align other agriculture, environment, and social protection
policies to manage existing risks. These risks are usually
identified and managed at national levels, and the three key
types are production risks, market risks, and enabling
environment risks. This report focuses on how West African
countries can benefit from collaboration in managing
agrifood system risks and on the resulting need to adapt a
regional lens to the ARM framework. Since both crop-specific
growing areas and the risks they face often span national
borders, there are substantial advantages that can be gained
by stronger collaboration. There is a need to build layered
approaches to manage risk that combine risk-mitigating,
risk-transfer, and risk-coping instruments. These risk
management approaches are needed within countries, with
regional approaches building on national efforts. This
report provides a foundational analysis to begin identifying
needed actions for West African countries and at regional levels. |
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