[COP27 Event Announcement] Global Shield Financing Facility: Learning from country experience of GRiF to inform future opportunities

Join us for the Global Shield Financing Facility: Learning from country experience of GRiF to inform future opportunities on 9 November, 2022 in person at World Bank Pavilion, UNFCCC COP27 Sharm El Sheikh or virtually via Webex (link here).

The objective of the event is to discuss lessons learnt from 4 years of Global Risk Financing Facility (GRiF) implementation, and to detail how the proposed Global Shield as well as the new World Bank Global Shield Financing Facility (GS-FF) will take into account these lessons to respond to increase financial protection for poor and vulnerable countries. The Global Risk Financing Facility (GRiF) has been supporting partner counties with the development and implementation of disaster risk financing instruments and policies since 2018. The GS-FF is an enhanced version of the GRIF (a $300m MDTF managed by World Bank and funded by Germany and UK). The GS-FF will support a wider range of non-Bank partners and support integrated financial packages for client countries. The Global Shield Financing Facility (GS-FF) is the World Bank’s offer to and major financing vehicle of the new Global Shield against Climate Risks, a G7 initiative led by Germany and supported by the Vulnerable 20, a climate coalition of over 50 developing countries. The Global Shield will be launched at the highest political level at COP27 (November 14).

This event is co-organized with the German Federal Ministry for Economic Cooperation and Development (BMZ) and with the UK Foreign, Commonwealth and Development Office (FCDO), which are both GRiF development partners and both are major forces behind the G7 Global Shield.

Event Details: 

When: 9 November 2022 | 11:00 AM - 11:45 AM EET |  9:00 AM - 9:45 AM GMT

Where: 

• In-person: World Bank Pavilion, UNFCCC COP27 Sharm El Sheikh, Egypt
• Virtual: Webex - Link here

Moderator: Fiona Stewart, Lead Financial Sector Specialist, The World Bank

Opening Remarks: Mari Pangestu, Managing Director of Development Policy and Partnership, The World Bank

Speakers:

• Hon. Abdiqafar Hange, Deputy Minister of Finance, Somalia

• Nella Sri Hendriyetty, Head of Centre for Regional and Bilateral Policy, Indonesia

• Dr. Heike Henn, Director for Climate, Energy and Environment, Federal Ministry for Economic Cooperation and Development (BMZ), Germany

• Hope Murera, Managing Director, ZEP-RE (PTA Reinsurance Company)

Moderator: Fiona Stewart, Lead Financial Sector Specialist, The World Bank

Primary contact: Simon Hagemann, FCI shagemann@worldbank.org (remote from Washington DC), Fiona Stewart (at COP27): fstewart1@worldbank.org

Additional contacts:

• Ronette Jordan: rjordan1@worldbank.org
• Caroline Cerruti/Evie Calcutt  Ccerruti@worldbank.org ; Ecalcutt@worldbank.org