World Bank to complete weather derivatives trade

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The World Bank will finalise a weather derivatives trade by October 1, in a move intended to hedge the Malawian government against the financial risk of severe or catastrophic drought.

The pilot trade, approximately $3 million in notional size, is expected to be the first in a series intermediated by the institution, aimed at enabling developing countries to hedge against weather risk. Indicative prices for the transaction are being gathered from market participants, and the World Bank intends

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