The Global Shield against Climate Risks is an initiative launched by the G7 and the Vulnerable Twenty (V20) Group of Ministers of Finance. It is the primary Global Shield Financing Vehicle for projects which can be integrated in World Bank and transferee eligible Multilateral Development Banks (MDBs) and UN Agency programmes to support governments in developing comprehensive solutions for CDRFI. In addition to programming financing, GSFF will also develop strategic partnerships to:
- Develop global engagements to close the protection gap
- Deepen engagement with humanitarian partners
- Mobilise private risk capital
Canada, Germany, Japan, Luxemburg and Great Britain
The GSFF is administered by the World Bank and managed by the GSFF PMT (also known as the “GSFF Secretariat”, with the Global Facility for Disaster Reduction and Recovery (GFDRR) as the trust fund manager and the global Finance, Competitivenes & Innovation (FCI) Crisis and Disaster Risk Finance team as technical manager).
Eligible funding recipients are eligible countries listed here and transferee eligible MDBs and UN organizations. The GSFF can provide both Bank-executed, and recipient-executed grants. Recipient-executed grants can be stand-alone and do not necessarily need to be combined with IDA/IBRD lending.
World Bank members, as well as non-members and countries in arrears are eligible (provided Board approval is sought and obtained).