IBRD Trust Funds - World Bank

Purpose

This grant represents Canada’s long-term institutional support to the Global Shield Financing Facility (GS-FF). The GS-FF uses these funds, along with other donors’ funding, to achieve its mandate. It is not considered core funding as Canada’s contribution will not necessarily be renewed beyond 2026. The GS-FF is a multi-donor trust fund administered by the World Bank and a financing mechanism of the G7 Global Shield against Climate Risks initiative launched at the 27th United Nations Climate Change Conference in 2022. The GS-FF aims to support vulnerable countries in improving their access to financial protection against climate shocks, disasters and crises, by providing technical advisory services and integrated financial packages to address protection gaps, as well as by building strategic partnerships through enhanced coordination among actors in the global climate and disaster risk finance and insurance sector. Formerly known as the Global Risk Financing Facility (GRiF), the new program is informed by the Global Shield in-country process to foster national ownership and amplify the voices of the most vulnerable, including women and girls.