This Decree contains the regulation of the Universal Agricultural Insurance "Pachamama", through the implementation of the Agricultural Insurance for Municipalities with higher levels of Extreme Poverty (SAMEP). The "Pachamama" Universal Agrarian Insurance insures the agricultural production affected by damages caused by climatic phenomena and adverse natural disasters.

The Decree also establishes the nature and institutional financing, the role and powers of the highest executive authority of the Agrarian Insurance Institute. The Ministry of Rural Development and Land, in coordination with the Ministry of Development Planning are the entities responsible for identifying the municipalities with high levels of poverty.

Supreme Decree No. 942 regulating the Universal Agrarian Insurance Pachamama

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Passed/Approved

Bolivia, Plurinational State of

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

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Area of the economy in which actors engage in identical or related activities.

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The management and allocation of funds, assets and investments to meet various objectives

A subsidy is a direct or indirect payment to individuals or businesses, typically provided as a government cash payment or a specific tax reduction.

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Financial support to help individuals manage the effects of unexpected events, securing their livelihoods and increasing the resilience of people and businesses to the changing climate. It’s especially vital in developing regions where everyday risks, climate-related weather extremes, or crop failures can push people into poverty. Without insurance, people may have to resort to selling assets or cutting consumption to cope with losses.

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Extreme weather refers to events where a weather variable exceeds (or falls below) a threshold. Meaning it is significantly different from the average or usual weather pattern.

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This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

the fair distribution of risks and opportunities of climate change and the transition to a regenerative economy, cognisant in particular of disproportionate impacts on vulnerable communities and the working class

Heavy precipitation refers to any form of weather where substances fall from the sky, including rain, snow, sleet, or hail.

Supreme Decree No. 942 regulating the Universal Agrarian Insurance Pachamama

Policy instrument

Risk

Just transition

Climate justice

Economic sector

Adaptation/resilience

Finance