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Bolivia's government plans to launch an agriculture insurance program in light of the arrival of the El Niño climate phenomenon next year, local paper Los Tiempos reported Teresa Morales, deputy rural development minister, as saying.
"The government has included in its agenda a universal agriculture insurance program to protect against weather damage that will be soon launched by the president," the paper quoted Morales as saying.
The initiative is expected to benefit small farmers, according to Morales, who said in the past bad weather has left up to US$130mn in damage to the agricultural sector.
Morales did not say when the launch would take place nor how many resources would be invested in this program, according to the paper.