YANGON, Sept. 25 (Xinhua) -- Myanmar will implement a weather index-based crop insurance system for farmers, U Ye Min Aung, president of the Myanmar Rice Federation, told Xinhua on Monday.
A public-private partnership task force, led by Myanma Insurance under the Ministry of Planning and Finance, was organized to carry out the system, U Ye Min Aung said.
If the farmers have insurance, they will be compensated when suffering losses, he said.
Crop insurance is extensively practiced in many agro-based countries, he added. ■