The Pacific Insurance and Climate Adaptation Programme (PICAP) of UNCDF, UNU-EHS, and UNDP aims to improve the financial preparedness and resilience of Pacific Islanders towards climate change and natural hazards through the development and implementation of market-based meso-and microinsurance schemes, primarily climate disaster risk insurance solutions. The project involved conducting a midterm review of PICAP to assess progress toward project objectives and results; assess the extent to which the programme responds to the needs of national partners; assist UNCDF and key partners understand the relevance, efficiency, effectiveness, likely impact, and sustainability of the programme; identify key challenges and factors that may have affected implementation, and identify key lessons learned and other emerging opportunities for future programming.

FinValue was responsible for conducting the Mid-Term Review. Specific tasks included: desk review of the programme and sub-project documents, stakeholder meetings during the in-country mission, interaction with end-users, clients, and beneficiaries, data analysis, and report development. The MTR findings enabled UNCDF to obtain approval from its Investment Committee for launching the Scale-up Phase as well as helped raise additional funding from key donors.