Washington D.C.—The Global Shield against Climate Risks, together with its partner countries and financing vehicles, convened a roundtable at the premises of the Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20) in Washington D.C. on the margins of the World Bank and International Monetary Fund Spring Meetings. Bringing together climate-vulnerable countries, development banks, donors, regional risk pools, and private sector leaders, the discussion focused on how multilateral financing can strengthen fiscal resilience and scale pre-arranged Climate and Disaster Risk Financing and Insurance (CDRFI) solutions.

As climate-related disasters become more frequent and severe, participants highlighted the growing strain on public finances in vulnerable countries, where shocks often force governments to divert resources, cut budgets, or rely on costly emergency borrowing. Against this backdrop, the roundtable underscored the urgent need to move beyond reactive responses and accelerate the deployment of timely and reliable financing – helping countries manage residual risks while safeguarding financial stability and long-term development.

The roundtable created a space for partners to share their experience of engaging with the Global Shield and the results achieved to date. Ghana’s Minister of State for Climate Change and Sustainability, the Honorable Issifu Seidu shared that Global Shield’s In-Country Process had helped Ghana identify and prioritize critical financial protection gaps to address the country’s most pressing climate needs. Mohamed Qamar, Economist and Economic Advisor to Somalia’s Minister of Finance, spoke to the need for comprehensive, adaptive and proactive responses to climate shocks, particularly in fragile nations, and articulated his pride in Somalia’s recently submitted request for support to the Global Shield.

The roundtable explored:

• How development banks and climate funds can better align their financial instruments to support pre-arranged disaster risk financing;
• How the Global Shield’s country-led approach is catalysing investment in pre-arranged finance, with examples drawn from countries’ Requests for Support;
• The role of public–private partnerships in mobilising additional capital, expanding coverage, and delivering scalable financial protection solutions;
• The importance of risk layering approaches that combine different financial instruments to strengthen financial resilience; and
• Lessons emerging from early implementation, including the need for sustained coordination, capacity development, and long-term system strengthening.

Participants emphasised that scaling pre-arranged finance requires greater international collaboration—bringing together governments, development banks, climate funds, and private sector actors to align efforts and deliver solutions at scale. Strengthening collaboration is essential to closing remaining financial protection gaps and ensuring that financing supports immediate response and long-term climate-resilient growth.

The discussion also highlighted the Global Shield’s role in providing a continuum of support—from identifying financial protection needs, through mobilising and structuring finance, to supporting implementation and capacity development—helping countries embed CDRFI solutions systematically within national systems. Chairing the session, Ambassador Elizabeth Thompson highlighted ways that the Global Shield has helped nations move from abstract commitments to practical action while noting that closer collaboration is needed to scale impact. Chloë Horne, Ireland’s Deputy Director of the Multilateral Unit at the Department of Foreign Affairs and Trade spoke to her conviction that the country-led approach that defines the Global Shield builds ownership and strengthens the vital institutions and frameworks needed for international cooperation.

The event reaffirmed the Global Shield’s role as a collaborative platform that enables vulnerable countries to take the lead in shaping the solutions they need—while strengthening coordination across partners, mobilising finance more effectively, and accelerating delivery at country level.