
The World Bank Group has announced a Global Shield Financing Facility to help developing countries access more financing for recovery from natural disasters and climate shocks. The Global Shield against Climate Risk or Global Shield, in short, is a collaborative partnership between G7 and V20 to fast-track access to pre-arranged finance which is deployed swiftly and reliably before or soon after climatic shocks and disasters strike. The German government through its G7 chairmanship spearheaded the launch of the Global Shield. Through the Global Shield, governments, communities, businesses,...