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For the 1.3 billion people living on less than a dollar a day who depend on agriculture for their livelihoods, climate-related shocks are a constant threat to their food security and well-being. As climate change brings an increase in the frequency and intensity of droughts and storms, the challenges faced by food-insecure communities will also increase. The question of how to help rural families smooth their incomes and build resilience against climate-related risk is critical for addressing global poverty. In response to this challenge, Oxfam America and the UNWorld Food Programme have launched the R4 Rural Resilience Initiative. R4 refers to the four risk management strategies the initiative integrates: agricultural microinsurance, formal microfinance, opportunities to save, and environmental projects that strengthen the adaptability of land. Together these components are an innovate mechanism that has increased farmers’ investment in their land and small businesses, encouraged diversification of income generating opportunities, increased agricultural yields, and increased smart risk-taking. Through partnerships with dozens of public and private sector implementing partners, insurance companies, and global re-insurers, R4 has now reached over 20,000 farmers in two countries. Katie Naeve (MPP 2012), Policy Advisor for R4, will describe how R4 (specifically microinsurance) works, its success to date, and the role of the private sector in designing innovative solutions for the poor.