The insurance will be financed entirely by the state, meaning participating farmers will not be required to pay the premium.
Finance Minister Dr. Irving McIntyre, who presented the 2026/2027 National Budget on Tuesday, said the measure is intended to ensure government has immediate liquidity to provide assistance to farmers following major climatic events.
“This insurance facility will be fully financed by government at no cost to the farmers,” McIntyre announced.
The measure comes as the government continues significant investment in agricultural production and food security.
Between July 2017 and June 2026, the administration reported investing EC$252.5 million in agriculture, livestock, fisheries, infrastructure and food security.
Approximately 830 acres of priority crops were established over the last year, with projected production of 17.9 million pounds of marketable produce valued at more than EC$44.7 million.
The finance minister also noted that the government has invested in feeder roads, livestock infrastructure, fishing vessels, beekeeping and agro-processing with the aim of reducing the island’s dependence on imported food.
