National Assembly | Agricultural Insurance Institute Sustains $15.1 Million Budget for 2027

The National Assembly is scrutinizing the Agricultural Insurance Institute's (ISA) budget request of $15.1 million for the year 2027. The presentation, led by acting manager Nilka Lombardo de Arellano, detailed the institute's operational scope and financial needs.

During the session, it was highlighted that the ISA currently insures a significant agricultural area, totaling 35,000 hectares. This coverage is facilitated through 541 distinct insurance policies. The primary focus of these policies is on essential crops, specifically rice and corn, which are vital to Panama's agricultural sector.

The budget submission underscores the ISA's role in providing financial security to farmers against potential crop losses. The institute's ability to maintain such a large insured area indicates its importance in supporting national food production and the livelihoods of those involved in agriculture. The proposed budget will likely cover administrative costs, operational expenses, and potential payouts for insured events.

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During the sustentation, headed by the acting manager of the ISA, Nilka Lombardo de Arellano, it was detailed that the institution maintains 35,000 hectares insured through 541 policies, mainly for rice and corn crops.