Pakistan and Bangladesh First to Receive G7 ‘Global Shield’ Climate Funding

Pakistan and Bangladesh First to Receive G7 ‘Global Shield’ Climate Funding

• Pakistan, Ghana and Bangladesh will be among the first recipients of funding from a G7 ‘Global Shield’ initiative to provide funding to countries suffering climate disasters, the programme announced at the COP27 summit in Egypt.
• The Global Shield(GS), coordinated by G7 president Germany, aims to provide rapid access for climate-vulnerable countries to insurance and disaster protection funding after floods or drought. It is being developed in collaboration with the ‘V20’ group of 58 climate vulnerable economies. Germany has contributed $175.17 million in funding to Global Shield while other countries including Denmark and Ireland have contributed a little over $41 million.
• Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal as some of the initial recipients of Global Shield packages. Those packages would be developed in the coming months.

October Weekly Current Affairs (Persons) Bitbank: For which bank Sandeep Bakshi has been appointed as MD and CEO?

                         >> Download Current Affairs PDFs Here

                              Download Sakshi Education Mobile APP

Published date : 16 Nov 2022 04:26PM