Following the announcement of a change of leadership at the helm of the World Bank Group, the Chair of the Vulnerable Twenty Group of Ministers of Finance (V20) asserts that global development needs an international financial system that is fit-for-purpose given the prevailing climate crisis; and urges that the next head of the World Bank puts climate amongst its top priorities.  Reacting to the resignation of the World Bank President, David Malpass, Ken Ofori-Atta, Minister for Finance of Ghana and V20 Chair, highlighted that “major reforms to the world’s international financial architecture are urgently needed to prevent the escalating climate crisis from overwhelming the global economy.”  He specifically called for change in the areas of debt; the shifting of financial flows to serve climate goals; and the need to mainstream climate risks in institutional surveillance.  Also Read: GEF climate adaptation funds to support V20 Group efforts to minimize climate impacts He demurred at the continual inequities in keeping to the 1.5C safety limit of the Paris Agreement. The G7, with 25% of current emissions and the G20 members collectively, have taken the world on track for more than 3ºC of warming with its members’ NDCs having already fully exhausted its 1.5 ºC carbon budget on a fair shares basis, while the V20 remain fully compliant on a fair shares basis.  A new World Bank leadership must be committed to positive climate action (i.e. achieving a fair and joint transition for vulnerable countries) as a top priority.   “We can only be committed to climate forward leaders. The continued failure of the international financial system to uphold the Paris Agreement has kept our economies and communities on the front lines of the climate crisis. The next World Bank President’s first test of leadership will be her or his ability to act on debt, jobs and climate change, without pitting them against each other,” said Ken Ofori-Atta, Chair of the V20 and the Minister for Finance, Republic of Ghana. Also Read: V20, G7 reach agreement on financial protection against climate change loss “The V20 is determined to actively support and work with institutions such as the International Monetary Fund (IMF) and the World Bank by contributing our policy experience and insights in serving the 1.5 billion people across our 58 member economies. We are committed to helping the new World Bank leadership to facilitate a comprehensive debt reform, jobs, digitalization, ensure climate smart financial flows, and to accelerate efforts to drive down the increasingly daunting cost-of-capital. The new Bank president can also count on the V20 to boldly advocate this agenda. We look to the new leadership to bring innovative approaches to unlock the needed transformation in the global financial system, as we all work towards building a climate resilient global economy.” V20 ministers will meet during the WB and IMF spring meetings in April 2023. Currently chaired by Finance Minister Ken Ofori-Atta of the Republic of Ghana, V20 Group of Finance Ministers is a dedicated cooperation initiative of economies systematically vulnerable to climate change.    

The Vulnerable Twenty (V20) Group of Finance Ministers of the Climate Vulnerable Forum (CVF) that includes 58 climate vulnerable economies, and the Group of Seven (G7) on Monday (November 14, 2022) officially launched the Global Shield against Climate Risks – an initiative for pre-arranged financial support designed to be quickly deployed in times of climate disasters. The first recipients of Global Shield packages – called ‘Pathfinder Countries’ – include Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal, according to a message UNB received from COP27 being held in Egypt’s Sharm El-Sheikh. The Global Shield will start its implementation immediately after COP27. Initial contributions include around EUR 170 million from Germany and more than EUR 40 million from other countries. Also read: Climate Change: IOM DDG calls for redoubling efforts ahead of COP 27 In addition, a broad coalition of countries, multilateral institutions, non-state and private sector partners has underlined their full institutional commitment to the Global Shield. Ghana Finance Minister Ken Ofori-Atta, V20 Chair, called this is a path-breaking effort and hoped the funding window will benefit equally compared to the pre-existing structures whose performance remain to be proven. “Our fiscal space is under constant threat and the inflationary pressures of climate change are closing out our options. As part of our Climate Prosperity Plan to reduce the 98 percent financial protection sinkhole, the Global Shield will play a key role in resourcing financial and social protection packages to protect our economy, our enterprises and our communities,” Ken said. Ken said the Global Shield is long overdue. “It has never been a question of who pays for loss and damage because we are paying for it – our economies pay for it in lost growth prospects, our enterprises pay for it in business disruption, and our communities pay for it in lives and livelihoods lost.” Also read: D-8 PTA likely to be operational this year to boost intra-trade Svenja Schulze, Federal Development Minister of Germany, said that under the German presidency, the G7 have committed to scale-up action and support on loss and damage and to work towards a “Global Shield against Climate Risks”, responding to the V20’s call. “Germany stands by its responsibility to support poor and vulnerable people and countries in dealing with loss and damage. This launch sends a signal: We have heard the urgency and we are acting. We aim at overcoming differences even in challenging circumstances. Germany wants to be a bridge-builder.” Henry Kokofu, Special Envoy of the Climate Vulnerable Forum (CVF) Ghana Presidency, said: “This is definitely the start we need, but the more effective we are in innovations like the Shield, the more we have to emphasize that scale matters.” Recent V20 research found that 98% of the nearly 1.5 billion people in V20 countries do not have financial protection – a massive sinkhole for these countries whose workforce is mainly employed by small and medium enterprises. Read More: COP27: Bangladesh urges developed countries to double climate financing by 2025 According to this research, V20 countries have lost a total of USD 525 billion to climate impacts since 2000. As risks of losses and damages from climate change escalate further, the cost of capital and debt have risen to unsustainable levels, especially across climate vulnerable economies. The Global Shield addresses current weaknesses in the financial protection structure in climate vulnerable economies via pre-arranged finance which disburses quickly and reliably before or just after disasters happen. It expands instruments of financial protection for governments, communities, businesses, and households, thus, lessening the impact of disasters, making vulnerable economies resilient, safeguarding sustainable development, and protecting lives and livelihoods. Read More: Bangladesh wins COP27 award for community-led initiative Germany is providing some EUR 170 million as seed contribution, of which EUR 84 million are core funding to the Global Shield and EUR 85.5 million for related climate risk finance instruments. Further pledges of core funding to the Global Shield include DKK 35 million (about EUR 4.7 million) from Denmark, EUR 10 million from Ireland, USD 7 million from Canada, and EUR 20 million from France. Further contributions by donors are expected to materialize soon. The V20 and G7 have decided that it will be steered by the Global Shield High-Level Consultative Group, which includes representatives of the V20, G7, G20, think tanks, civil society, multilateral organizations and the private sector. A financing structure with three complementary funds forms the foundation of the Global Shield against Climate Risks: the Global Shield Solutions Platform, which builds on InsuResilience Solutions Fund, the Global Shield Financing Facility at the World Bank, and the Climate Vulnerable Forum (CVF) & V20 Joint Multi-Donor Fund. Read More: What can COP27 do for climate vulnerable countries?

Global leaders are preparing for the COP27 next month — to take action towards achieving collective climate goals set under Paris Agreement and the Convention. The 27th Conference of the Parties to the United Nations Framework Convention on Climate Change, or ‘COP27’, will build on the outcomes of COP26 to deliver action on an array of issues critical to tackling the climate emergency. These are: urgently reducing greenhouse gas emissions, building resilience and adapting to the inevitable impacts of climate change, and delivering on the commitments to finance climate action in developing countries. Also read: Dhaka calls for implementation of climate financing pledges ahead of COP27 Bangladesh will reiterate its call to materialize the pledge of providing US$ 100 billion funds per year to developing countries at the earliest, officials said. Bangladesh will also highlight the importance of “enhanced funds” for climate change mitigation and adaptation at the conference that will take place from November 6 to 18 in Sharm el-Sheikh, Egypt. Nations are expected to demonstrate at COP27 that they are in a new era of implementation by turning their commitments under the Paris Agreement into action. Read V20, G7 reach agreement on financial protection against climate change loss Heads of states and governments will attend the Sharm el-Sheikh Climate Implementation Summit on November 7 and 8 while a high-level segment primarily attended by ministers will take place from November 15-18. The Vulnerable 20 (V20) and Group of 7 (G7) will jointly launch the Global Shield Against Climate Risks at COP27 in a wider effort to accelerate pre-arranged financing at speed and scale. The V20 membership stands at 58 economies representing some 1.5 billion people including Bangladesh. Read Climate Change: IOM DDG calls for redoubling efforts ahead of COP27 The Vulnerable 20 Group of Finance Ministers from climate vulnerable economies and the G7 Presidency have already announced they have reached agreement on a financial protection cooperation that responds to loss and damage as a contribution to the Paris Climate Treaty. Foreign Minister AK Abdul Momen has called for implementation of climate financing pledges commensurate with the principles of loss and damage ahead of the climate conference going to take place in Sharm El Sheikh next month. State Minister for Planning Dr Shamsul Alam has said Bangladesh firmly believes that climate change is a security issue and it must be discussed at a regular interval at the United Nations Security Council (UNSC). Read UN Resident Coordinator stresses urgency of fighting climate change Bangladesh has been a significant player in global climate diplomacy and during the presidency of CVF, Bangladesh emerged as a bold voice in the climate change negotiations under the leadership of Prime Minister Sheikh Hasina. Bangladesh has launched the “Mujib Climate Prosperity Plan” with the aim to put her on a journey from climate vulnerability to resilience to climate prosperity. The government sees it as one of the landmark policy guidelines for climate vulnerable countries. As government representatives begin to finalize the agenda for the COP27 climate change conference in Egypt next month, the UN chief told journalists in New York that the work ahead is “as immense as the climate impacts we are seeing around the world”. “At COP27, I will launch an action plan to provide early warning systems for all within five years,” said UN Secretary General Antonio Guterres. He urged the governments, international financial institutions and civil society to support it. Read Bangladeshi youths join Global Climate Strike “We came out of Paris, COP21, with a historic agreement which set out a framework of what needs to be done, and then in Glasgow last year, an agreement on how to do it,” said Simon Stiell, the sixth Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) or UN Climate Change. 2022 marks seven years since the adoption of the Paris Agreement on Climate Change - a landmark international treaty to tackle the climate crisis.  The agreement calls for limiting global warming to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5°C. To get there, the world needs to halve its carbon emissions by 2030. Read What can COP27 do for climate vulnerable countries?

The Vulnerable 20 (V20) and Group of 7 (G7) will jointly launch the Global Shield Against Climate Risks at COP27 in a wider effort to accelerate pre-arranged financing at speed and scale. The Vulnerable 20 Group of Finance Ministers — from climate-vulnerable economies — and the G7 Presidency have announced they have reached an agreement on financial protection cooperation that responds to loss and damage as a contribution to the Paris Climate Treaty. V20 Chair Ken Ofori-Atta, Finance Minister of the Republic of Ghana, and Svenja Schulze, German Federal Minister for Economic Cooperation and Development, from the G7 Presidency met in Washington DC to conclude the final details of the Global Shield, according to a joint media release received from Washington DC early Saturday. Read Dhaka calls for implementation of climate financing pledges ahead of COP27 The V20 membership stands at 58 economies representing some 1.5 billion people including Bangladesh. The Group of 7 (G7) consists of Canada, France, Germany, Italy, Japan, the UK and the USA. The European Union also participates in G7 meetings. Germany took on the presidency of the Group of 7 from the United Kingdom on 1st January this year. The presidency lasts for one year. Read US, Egypt launch group to prepare for COP27 climate summit Ofori-Atta said they are pleased that the G7 Presidency of Germany has partnered with the V20 on the Global Shield Against Climate Risks. It is obvious that their socio-economic losses are compounding due to the increased severity and scale of climate-fuelled risks, said the Minister. V20’s debt service payments alone are half a trillion US dollars over the next four years, and on top of that, the Group is facing inflation and currency depreciation against the dollar. Read Civil Society calls for protecting climate vulnerable women and girls Pre-arranged funding and the efficient delivery of subsidies for insurance through the V20 Trust Fund is critical to ensure that we do not increase our debt burdens. It is important to recognize that we do not ask for charity. What we need is stronger economic cooperation through Climate Prosperity Plans between the developed world and the climate vulnerable countries of the world. "We need new investments enabled by protection instruments under the Global Shield to fortify our economies, supply chains and communities against these accelerating climate risks. I am pleased that Ghana is part of the pathfinder countries under the Global Shield and look forward to expedited action so we can scale up this intervention across the African continent and the rest of the developing world,” Ofori-Atta said. Read Cabinet sends back National Adaptation Plan on climate change for modification Schulze said climate change is already a dramatic reality and it is no longer a question of whether climate change-related loss and damage will happen, it is only how often it will occur – and how fierce and how expensive it is, and most importantly, who is affected most. "To stop the climate crisis from becoming worse, we need to drive global climate action with even greater commitment," said Schulze. "This includes that we must acknowledge that there is climate-related loss and damage and that the most vulnerable countries, in particular, need our solidarity in dealing with it," said the German Minister. Read Bangladeshi youths join Global Climate Strike "This is where we want to build bridges for the upcoming global climate conference in Egypt by putting forward concrete solutions. The world needs concrete action more than words in order to deal with loss and damage," Schulze said. Together with the most vulnerable developing countries, Schulze said, they have taken a big step in this regard. "The decision to build together a Global Shield against Climate Risks will offer millions of vulnerable and poor people financial and social protection after climate disasters.” Read UN experts alarmed by restrictions on civil society ahead of climate summit The Global Shield includes the following: Strengthened coordination within the global climate and disaster risk finance and insurance (CDRFI) architecture across G7, V20, and other climate-vulnerable economies to ensure coherence of different institutions’ and donors’ efforts at the global, regional and national levels. A global, flexible, and collaborative financing structure to mobilise and pool respective donor and other funds and enable a more systematic global approach to closing protection gaps. Sustained protection in the face of increasing climate risks by scaling up existing successful CDRFI programmes, including social protection schemes, and preparing country-specific, needs-based CDRFI support packages, including the scaling up of smart premium and capital support to address affordability barriers. Read CSOs demand Bangladesh put loss, damage finance on COP27 agenda Formed in 2015, the V20 Group of Finance Ministers is dedicated cooperation of economies systematically vulnerable to climate change. Currently chaired by the Republic of Ghana, V20 Group members are also states of the Climate Vulnerable Forum (CVF). The Global Shield builds on the InsuResilience Global Partnership which the V20 and G20 previously introduced with a goal of insuring 500 million people in climate-vulnerable countries by 2025. Read Climate Change: IOM DDG calls for redoubling efforts ahead of COP 27 The Global Shield Against Climate Risks at COP27 is a wider approach that encompasses an acceleration of these efforts including social protection schemes, with V20 and G7 members.

The V20 Group of Finance Ministers has concluded its senior officials meeting with a call on the International Monetary Fund and related international financial institutions to intervene with practical solutions for the delivery of the $100 billion per year pledged by developed countries under the Paris Climate Treaty. Hosted by the Economic Relations Division (ERD), Ministry of Finance of Bangladesh, the  meeting held on Tuesday focused on financing initiatives of the V20 and on advocacy and partnerships efforts for countries most threatened by climate change. As highlighted by the First V20 Climate Vulnerables’ Finance Summit and V20 Ministerial Dialogue VII, the world has arrived at ‘a point of no return’ and the most vulnerable suffer financial losses the most, the officials observed. The V20 calls for a joint ‘Delivery Plan’ from the developed nations to concretely demonstrate how annual climate finance will be met over the 5-year period from 2020 to 2024, or $500 billion in total. IMF and other financial institutions are urged to jointly assess gaps and failures in international finance and to propose practical solutions, taking into consideration debt sustainability. Synergies between existing funds and streamlined direct access by countries must be prioritized. Read: IMF keen to work closely for Bangladesh’s RMG sector’s development A clear and concrete Delivery Plan for the UNFCCC-agreed US$100 billion per year for the period 2020 until 2025, with a total of US$500 billion can include the following: Aggregate and individual public contributions from all developed nations per year, highlighting additionality to ODA (i.e., that climate finance is not just‘re-purposed’ ODA). Public and private mobilizations to reach at least $500 billion in 50:50 balanced (adaptation-mitigation) flows for the period 2020-24; debt and grant proportions supported per developed country, showing a growing emphasis on grants especially for adaptation over time; growing emphasis of adaptation resources reaching developing nations particularly vulnerable to climate change; transparency on implementation through annual tracking conducted independently by the IMF and IMF to ascertain the most efficient composition of climate finance. The new financing goal targets for 2025 can benefit from considering V20 Climate Finance Viewpoints which also underscores for an inclusive process, commensurate with ground truths. In line with risk-information, the V20 and Insurance Development Forum further confirm steps forward in a partnership to be launched at COP to provide vulnerable country governments with an open-access risk modelling platform and the knowledge to utilize the best of global and local models and data. Specifically the Global Risk Modelling Alliance is designed to enable V20 members to strengthen their physical climate risk management capabilities and create the trust and confidence necessary to attract investment in adaptation and risk financing solutions. The V20 further look forward to reaching a way forward during the InsuResilience High Level Consultative Group meeting with G20+ members on smart premium subsidies and capitalization support and an improved climate and disaster risk financing and insurance architecture to highlight gaps in light of increasing frequency and intensity of climate-fueled disasters. Efforts on key initiatives including the ‘climate prosperity’ program for the development and implementation of the strategic economic-climate-SDG investment and cooperation frameworks, commencing with Bangladesh’s ‘Mujib Climate Prosperity Plan’. Read: IMF approves largest SDR allocation in history to boost global liquidity Since its founding in 2015, the V20 continues working through Multilateral Development Banks (MDBs) and national Financial Institutions (Fis) to develop an Accelerated Financing Mechanism: an innovative financing mechanism to bring down the cost of capital across the capital stack by directly unlocking at least $30 billion of private sector investments, through more systematic and optimized financial de-risking for resilient infrastructure and renewable energy. A Sustainable Insurance Facility, provides climate-smart insurance for micro, small and medium-sized enterprises (MSMEs) and the vulnerable people that depend on them and aims to build local and regional insurance markets to help better absorb risk, develop resilient business models, and free up public and private resources for investment in the resilience and growth of the V20 economies and people. Asia-Pacific implementation is already advancing, supported by the Asian Development Bank’s ACliFF. The facility is now hosted in the UN Environment FI Principles for Sustainable Insurance Initiative, and supported by the Munich Climate Insurance Initiative. Formed in 2015, the V20 Group of Finance Ministers is a dedicated cooperation initiative of economies systematically vulnerable to climate change. It is currently chaired by Bangladesh. The V20 membership stands at 48 economies including Afghanistan, Bangladesh, Barbados, Bhutan, Burkina Faso, Cambodia, Colombia, Comoros, Costa Rica, Democratic Republic of the Congo, Dominican Republic, Ethiopia, Fiji, The Gambia, Ghana, Grenada, Guatemala, Haiti, Honduras, Kenya, Kiribati, Lebanon, Madagascar, Malawi, Maldives, Marshall Islands, Mongolia, Morocco, Nepal, Niger, Palau, Palestine, Papua New Guinea, Philippines, Rwanda, Saint Lucia, Samoa, Senegal, South Sudan, Sri Lanka, Sudan, Tanzania, Timor-Leste, Tunisia, Tuvalu, Vanuatu, Viet Nam and Yemen.

Foreign Minister Dr AK Abdul Momen has proposed establishing a fund by V20 for the rehabilitation and reintegration of climate migrants to societies, or else, they could be a "security risk". "V20 (Vulnerable Twenty) may think of establishing a Fund for their rehabilitation and reintegration to societies, otherwise they could be a security risk," he said. Each year, Dr Momen said, thousands of people are uprooted from their sweet homes and traditional jobs due to global warming, inundation and river erosion. Also read: Vulnerable economies call on rich nations to avert global climate-Covid economic threat "These displaced people, we term them as ‘Climate Migrants’ need to be rehabilitated," he said while addressing the Climate Vulnerables' Finance Summit on Thursday night. 

Vulnerable economies on Thursday called upon the rich nations to avert global climate-Covid economic threat. The 48 most vulnerable economies demand “2020-2024 delivery plan” for the missing $100 billion annual Paris Agreement climate assistance. Led by Bangladesh as chair of the V20, the world’s most climate vulnerable economies met virtually as heads of state and government, ministers of finance and economy, together with leaders of the United Nations, partner economies and the global financial system to address the compound, destabilizing effect of climate disasters and the Covid-19 pandemic on low- and middle-income economies. The ‘Vulnerable Twenty’ (V20) Group of Finance Ministers released a Communique that called for leadership by industrialized nations and cooperation to urgently transform and align the global economic system with the goals of the Paris Climate treaty for a more robust, greener, and equitable recovery. The first ‘Climate Vulnerables Finance Summit’ was opened by Bangladesh Prime Minister Sheikh Hasina. She said every country must pursue an ambitious target to curb Greenhouse gas emissions to keep global temperatures from rising to 1.5ºC. "This target has been approved through a global consensus, but we have not observed any visible action”, said the Prime Minister adding that “I urge all, particularly the G20 nations to show their actions.” She indicated that the tragedies faced by the most vulnerable will haunt the world economy if urgent action is not taken and the economic and financial support needs of the V20 are not met, stating that “Developed nations need to articulate a concrete delivery plan on how the shortfall of annual climate finance will be met between 2020 and 2024. They should facilitate the green recovery of the Climate Vulnerable Forum (CVF)-V20 by providing monetary assistance, transferring technology, and building capacity.

Bangladesh will host the first-ever virtual V20 Climate Vulnerables Finance Summit  on Thursday aimed at shaping up a cooperative responses of the problems related to global warming and climate change. Prime Minister Sheikh Hasina, Chair of the Climate Vulnerable Forum (CVF), will open the Summit, which will be attended by the Heads of States and Governments from the CVF member countries, said Finance Minister AHM Mustafa Kamal told reporters at a virtual briefing on Wednesday. He said major International Financial Institutions, including the Secretary General of the United Nations and representatives from G7 and G20 will to attend the mega event scheduled to be held from 7:30 pm to 9:50 pm. READ: PM to open V20 Finance Summit Thursday He said the event is poised to become one of the most crucial and eminent platforms for decisive climate action in the lead up to COP26 Glasgow. The CVF member nations include Colombia, Costa Rica, Ethiopia, and the Marshall Islands; V20 finance ministers from countries including Afghanistan, Bangladesh, Bhutan, Burkina Faso, Costa Rica, Dominican Republic, Ghana, Haiti, Ethiopia, Fiji, Grenada, Honduras, Maldives, Marshall Islands, Philippines, Timor-Leste, and Sri Lanka; along with Minister of Foreign Affairs  and Minister of Environment, Forestry and Climate Change of Bangladesh. Formed in 2015 the V20 Group of Finance Ministers, Mustafa Kamal said, this forum is a dedicated cooperation initiative of economies systematically vulnerable to climate change. The finance minister said the V20 represents economies of a collective 1.2 billion people from 48 countries which are the most affected by the climate change and they are facing existential threats from its growing perils.  He said that collectively, V20 countries will seek a transformational approach to global economic activities anchored in keeping global warming to below 1.5 degree Celsius while keeping the global economy on its growth path. “We are going to set a clear pathway overcoming the real crisis of Covid-19 and climate change towards a recovery and climate prosperity as a whole. He said government and international agencies must seize every opportunity for protection of the most vulnerable communities through a close cooperation with the United Nations sand key development partners in order to ensure fast-tracked efforts in building resilience. Responding to a question, Kamal said there is almost zero emissions in the coal-fired power plants which Bangladesh is building for its economic needs. “We use the highest quality coal in these plants”. READ: Bangladesh to host V20 Climate Vulnerables Finance Summit on July 8 He also claimed that Bangladesh has been spending more than $2 billion every year to mitigate climate vulgarities.   Minister of Environment, Forest and Climate Change, Md. Shahab Uddin; Special Envoy of CVF Presidency of Bangladesh, Md. Abul Kalam Azad; Secretary of Economic Relations Division Fatima Yasmin and Secretary of the Ministry of Environment, Forest and Climate Change, Md. Mostafa Kamal, also spoke at the press briefing.

The government of Bangladesh has announced it will host the first-ever virtual V20 Climate Vulnerables Finance Summit on July 8. The Summit will feature Prime Minister Sheikh Hasina, heads of state from Climate Vulnerable Forum member countries, and V20, or the twenty most vulnerable countries' finance ministers, to mobilize significantly more robust economic and finance responses to the spiraling dual crisis that increasingly affects the world’s most vulnerable economies.     READ Climate action: BYLC holds World Environment Day Creative Competition  In close cooperation with the United Nations, the IMF, and key development partners, the high-level dialogue will shape globally cooperative responses to ensure fast-tracked resilience-building efforts to overcome the new realities of tandem climate and COVID pressures through bold new actions and partnerships.  The Summit will be chaired by A H M Mustafa Kamal, Finance Minister of Bangladesh, and co-hosted with the Global Center on Adaptation, said an announcement made on Monday.   The government of Bangladesh is currently chair of the Climate Vulnerable Forum and the V20 Group of Finance Ministers.  Read Shammi Quddus: A Talented Bangladeshi Woman in Google, Global Fintech Industry After the Summit, the V20 will issue a Communique highlighting expectations on the upcoming UNFCCC COP26 and global climate finance.  Formed in 2015, the V20 Group of Finance Ministers is a dedicated cooperation initiative of economies systematically vulnerable to climate change. It is currently chaired by the People’s Republic of Bangladesh.  The V20 membership stands at 48 economies including Afghanistan, Bangladesh, Barbados, Bhutan, Burkina Faso, Cambodia, Colombia, Comoros, Costa Rica, the Democratic Republic of the Congo, Dominican Republic, Ethiopia, Fiji, The Gambia, Ghana, Grenada, Guatemala, Haiti, Honduras, Kenya, Kiribati, Lebanon, Madagascar, Malawi, Maldives, Marshall Islands, Mongolia, Morocco, Nepal, Niger, Palau, Palestine, Papua New Guinea, Philippines, Rwanda, Saint Lucia, Samoa, Senegal, South Sudan, Sri Lanka, Sudan, Tanzania, Timor-Leste, Tunisia, Tuvalu, Vanuatu, Viet Nam, and Yemen.  READ: Climate Change to get priority in Bangladesh alongside Covid support:ADB