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Microinsurance is a powerful tool in helping low-income households transition out of poverty, but it has not achieved substantial scale compared with microcredit.
The Mongolian rural economy is based on livestock reared by semi-nomadic herders. Agriculture contributes around 20 percent of the country’s gross domestic product, and herding accounts for more than 80 percent of agriculture.
A serious injury or illness usually increases medical expenses and often reduces income.