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Germany and the UK support WFP with 20 million USD for the countries most affected by climate change

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Sharm El Sheikh (EGY), 16 November 2022 - Germany and the UK have agreed to support the World Food Programme (WFP) with 20 million USD to help expand WFP climate and disaster risk financing in 23 countries worldwide.

Henry Kokofu, Special Envoy of the Climate Vulnerable Forum (CVF) Ghana Presidency, Federal Minister for Economic Cooperation and Development, Svenja Schulze, Foreign Minister of Bangladesh, Abdul Momen, and Sara Ahmed of the V20, befor a press conference on the launch of the Global Shield against Climate Risks at COP27 in Sharm El.Sheikh.
Henry Kokofu, Special Envoy of the Climate Vulnerable Forum (CVF) Ghana Presidency, Federal Minister for Economic Cooperation and Development, Svenja Schulze, Foreign Minister of Bangladesh, Abdul Momen, and Sara Ahmed of the V20, befor a press conference on the launch of the Global Shield against Climate Risks at COP27 in Sharm El.Sheikh.© photothek.de / Leon Kügeler

The initiative underlines the importance of investing in climate action to protect vulnerable populations in the event of disasters.

The funding will support the expansion of WFP’s climate and disaster risk financing cover in 23 countries across the globe, protecting up to 4.6 million people from climate risks over the next two years.

Svenja Schulze, German Federal Minister for Economic Cooperation and Development, said:

Germany stands by its responsibility to support poor and vulnerable people and countries in dealing with loss and damage.

This funding is part of our joint efforts of building a Global Shield Against Climate Risks.

Anticipatory and early action make all the difference between a climate impact and a climate disaster.

It is estimate that by 2040, over 130 million people could be pushed into extreme poverty by climate change.

Background Information

The Global Shield Against Climate Risk was officially unveiled two days earlier by the G7 and V20 at the COP27 climate summit in Egypt.

The V20 is a group of finance ministers from the 55 countries most vulnerable to climate change.

Chancellor Olaf Scholz had announced Germany's contribution of 170 million euros to the Global Shield.

Of this, 84 million euros are earmarked for the central financing structure of the shield, the other funds for complementary instruments of climate risk financing, which will be implemented in concrete safeguarding measures over the next few years.

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