Distinguished guests, colleagues, and friends,
 
Good morning!
 
On behalf of UNDP, I am honoured to speak at the Global Agricultural Insurance Development Forum, held as part of the 2025 World Agrifood Innovation Conference.
 
Agriculture lies at the heart of the Sustainable Development Goals (SDGs) as it sustains livelihoods, ensures food security, and underpins resilience of rural economies and communities.
 
To set the context of today’s discussion, let me share the current state of play, globally.
 
The agriculture sector is increasingly vulnerable to climate-related shocks that can lower crop yields, threatening decades of development progress.
 
Over the past three decades, an estimated USD 3.8 trillion worth in crop and livestock production has been lost due to disaster events.  This represents more than 5% of annual global agricultural GDP.[1]
 
Strengthening agricultural resilience and building inclusive, climate-resilient economies is therefore critical - both globally and here in China.
 
What is clear is that the current state of play presents both continued complex challenges but also an opportunity to reassess our current approaches and chart new pathways by leveraging on the power of digital technologies and new innovative financing models.
 
Agricultural insurance has emerged as a strategic tool in this effort. It not only protects farmers’ livelihoods in times of crisis but also builds the confidence needed to invest in productivity and innovation.
 
By sharing risks more equitably, insurance helps stabilize rural economies, attract finance, and strengthen the resilience of food systems as a whole. Yet at the same time, we are aware that only a small portion of farmers have access to agricultural insurance and will need to be prioritized.
 
Expanding access and achieving scale requires strong leadership — particularly national leadership that sets clear policy direction, builds enabling frameworks, and mobilizes multi stakeholder partnerships across the government, private sector, academia, local communities and development partners.
 
China’s experience demonstrates the transformative power of such leadership and with lessons learned on new and innovative approaches to address this critical challenge.  
 
From small-scale pilots in 2007 to becoming the world’s largest agricultural insurance market today, China’s multi-layered public–private model, characterized by government leadership and extensive premium subsidies across all levels of government, has proven that large-scale, government-supported systems can deliver both protection and innovation.