At the COP27 climate change conference in the coming days, the World Bank is set to announce the launch of the Global Shield Financing Facility (GS-FF), which will be an important new financing structure to channel capital to protect vulnerable nations against climate and disaster risks.
Details are limited right now, but from what we understand the Global Shield Financing Facility (GS-FF) will become a key financing and implementation vehicle the World Bank’s deliver of financing solutions designed to support climate adaptation, resilience and also disaster risk transfer.
The Global Shield Financing Facility (GS-FF) is seen as a version 2.0 of the World Bank’s Global Risk Financing Facility (GRiF), through which it has already delivered some $2 billion in project financing so far.
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