CVF-V20 Urges Scale-Up as ARISE Names First Countries
November 12, 2026
ANTALYA—The Gambia is moving three climate finance initiatives into implementation and looking to partners to help raise the estimated US$2.3 billion its climate goals require by 2030, the Government said today at COP31. This is a key step in The Gambia’s efforts to reduce poverty, create green jobs, and increase resilience.
The three initiatives were identified at the March 2026 Climate Finance Roundtable, co-convened with the International Monetary Fund (IMF) and the World Bank Group, to turn the national Climate Prosperity Investment and Financing Strategy (CPIFS) into investable projects. They build on reforms under The Gambia’s IMF Resilience and Sustainability Facility (RSF), whose third review IMF staff agreed on 30 October, citing progress on groundwater management and climate-resilient coastal zoning.
Completion of the reviews provides The Gambia with additional financing of SDR 20.73 million (about US$28 million) under both arrangements, bringing total disbursement under both ECF and RSF arrangements to SDR 105.75 million (about US$ 142 million). The RST shows what the international system can do when it chooses to: it turns the world’s reserve assets into long-term, affordable finance for the countries that need it most. The RST has 28 active engagements to date.
The workstreams sit alongside wider efforts, including a US$10 million Global Shield grant for disaster risk finance and proposed US$25 million GCF early warning investment. The Gambia also ranked fifth of 66 submissions to ARISE, the Climate Investment Funds’ new resilience programme. ARISE is still raising its target of up to US$700 million, so The Gambia’s place in the pipeline will only turn into financing once the
programme is capitalised.
“From climate vulnerability to climate prosperity: that is the journey of our Climate Prosperity Investment and Financing Strategy charts, and The Gambia refuses to let it gather dust as just another plan on a shelf. With the Green Transition Taxonomy, the Project Preparation Facility and the Blended Green Finance Facility, we are equipping our institutions with the efficiency and credibility investors and partners expect. Approximately US$2.3 billion is needed by 2030 to achieve our climate goals, and our door is open to the development and financing partners ready to build with us."
"“From Banjul to Antalya, the advance of our climate finance priorities continues, and today marks another milestone. Completion of the IMF reviews provides The Gambia with additional financing of SDR SDR 105.75 million, about USD 142 million. We applaud the IMF, and we thank Deputy Managing Director Bo Li for his service and for his support of the Resilience and Sustainability Facility: leadership that matters all the more as the world moves toward dangerous levels of overshoot. For our part, the Ministry of Finance and Economic Affairs has allocated GMD 10 million to capitalise the Project Preparation Facility, an initial domestic contribution to help mobilise additional resources from partners."
“It is not enough to merely re-state the importance of our presence here in the fabled land of Türkiye. The time for climate bromides has long expired. Our people deserve specifics, and our agenda must reflect the details of what our communities desperately need. What The Gambia brings is an implementation agenda: the Green Transition Taxonomy, the Project Preparation Facility and the Blended Green Finance Facility: the specifics that enable what our people need not just to survive but to flourish.
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The CVF-V20 now represents 77 member countries from small island developing states (SIDS), least developed countries (LDCs), low to middle-income countries (LMICs), landlocked developing countries (LLDCs), and fragile and conflict-affected states (FCS). Working together, the CVF-V20 aims to achieve climate justice through the realization of Climate Prosperity Plans, which contain ambitious economic and financial resilience strategies designed to attract investment and resources that advance the attainment of the Sustainable Development Goals (SDGs), 30×30 Global Biodiversity, and help keep the average global temperature within the Paris Agreement’s 1.5°C safety threshold.
Africa: Benin, Burkina Faso, Cabo Verde, Central African Republic, Chad, Comoros, Côte d’Ivoire, Democratic Republic of the Congo, Eswatini, Ethiopia, Gabon, The Gambia, Ghana (Troika), Guinea, Kenya, Liberia, Madagascar, Malawi, Morocco, Mozambique, Namibia, Niger, Rwanda, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia
Asia: Afghanistan, Bangladesh (Troika), Bhutan, Cambodia, Jordan, Kyrgyzstan, Lebanon, Maldives, Mongolia, Nepal, Pakistan, Palestine, Philippines, Sri Lanka, Timor-Leste, Vietnam, Yemen
Caribbean: Barbados (Chair/Troika), Dominica, Dominican Republic, Grenada, Guyana, Haiti, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago
Latin America: Colombia, Costa Rica, Guatemala, Honduras, Nicaragua, Paraguay
Pacific: Fiji, Kiribati, Marshall Islands, Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu
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