Kenya will spend $140 million to roll out an expanded insurance scheme for livestock farmers to cushion them against the vagaries of frequent droughts, officials said on Tuesday.
The plan is part of a World Bank-sponsored project targeting 1.6 million herders in Djibouti, Ethiopia, Somalia and Kenya, a region which is prone to devastating droughts that occur every two to four years, over the next half a decade.
The loss of the animals usually translate to billions of shillings in losses and a reduction in annual economic output due to the East African nation's dependence on farming, including rearing of livestock, the department said.
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