PRESS RELEASES

CVF-V20 and Ghana Launch Akosombo Loss and Damage Funding Program (AkoLAD) to Strengthen Community Resilience

The Climate Vulnerable Forum and V20 (CVF-V20) and the Government of Ghana, led by the Office of the Minister of State for Climate Change & Sustainability, announced the launch of the Akosombo Loss and Damage Funding Program (AkoLAD) — a targeted initiative designed to support communities affected by climate-induced flooding and strengthen long-term resilience.

AkoLAD forms part of the broader V20 Loss and Damage Funding Program and is financed through the Global Shield Financing Window of the CVF-V20 Joint Multi-Donor Fund (JMDF), with a contribution from the Government of Wallonia. The program is implemented in partnership with CARE Denmark and national partners.

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Country Platforms as Delivery Units and Running Start of Climate Prosperity Agenda

The Climate Vulnerable Forum and its V20 Finance Ministers (CVF-V20) call for direct access funding of at least US$ 8 million to operationalize the climate prosperity agenda and establish country-led platforms across member states. This was emphasized during the Climate Prosperity Roundtable last 17 October 2025 in the margins of the 2025 Annual Meetings of the World Bank Group and the International Monetary Fund.

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Tailored Initiative for Pacific Nations Climate Resilience

– The Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20) Secretariat has officially launched the Pacific V20 Loss and Damage Funding Program (PacLAD) with a financial envelope of USD 2 million to support three Pacific Island nations: Fiji, the Republic of the Marshall Islands and Tonga. The official launch follows the finalisation of the Global Shield Request for Fiji at an inter-agency workshop hosted by the Ministry of Finance on 29 October 2025.

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Global Shield Roundtable Highlights Progress: Advancing Climate and Disaster Risk Financing at Scale

Beneficiary countries and partners of the Global Shield against Climate Risks, gathered today at the premises of the Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20) in Washington D.C. to take stock of progress made in the implementation of the Global Shield initiative, exchange lessons learned, and explore ways to scale up climate and disaster risk financing and insurance (CDRFI).

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