V20 Ministerial Dialogue X

From Accra to Marrakech: Advancing Fit-for-Climate Financial Architecture and Development-Positive Climate Action

This is a private event

IMF Headquarters, HQ 2, Conference Hall 1

16 April 2023, 11:00 ET

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Taking place at the World Bank/International Monetary Fund Spring Meetings, the V20 Ministerial Dialogue X is an opportunity for the most climate-vulnerable economies to build global strategies to avert climate breakdown

Event description:

As the supreme forum of the Vulnerable Group of Twenty (V20) Finance Ministers of economies systemically vulnerable to climate change, the V20 Ministerial Dialogue X serves to forge and oversee key V20 partnerships with international financial system actors, including donors, international financial institutions and development partners, and to review progress and endorse activities in the V20’s own program of work.

The Global Center on Adaptation (GCA) is the Managing Partner of the Climate Vulnerable Forum (CVF) and the V20 Group.

OBJECTIVES
The V20 Ministerial X aims to:

  • Launch the roadmap, under Ghana’s presidency of the CVF and V20, to conclude at the 2023 Annual Meetings of the IMF and World Bank Group at Marrakech, towards an International Financial Architecture that would be “Fit-for-Climate”, delivery equally for the world’s most vulnerable economies as for the global economy
  • Deliberate on key aspects of transforming international financial systems to deliver on climate, with a particular focus on:

  • Transformation of international financial institutions financing: Exploring how shifting existing flows, accessing SDRs and optimizing lending headroom can best support climate-resilient futures
  • Debt sustainability: Exploring how the Common Framework could deliver its most through more comprehensive access to climate threatened economies and by supporting development-positive climate action
  • Global carbon finance: Exploring how to enable equitable and ambitious climate action by major and vulnerable economies alike through internationally transferred mitigation outcomes and financing
  • G7-V20 Global Shield against Climate Risks: Exploring how this major new initiative can transform the management and integration of climate risks of all kinds to close financial protection gaps and accelerate the building of a resilient future
  • Explore the linkages between these four key areas for transformation and the county-led Climate Prosperity Plans of the V20, which present economy-wide development positive climate action strategies for investment, and public and private partnerships to activate cooperation enabling their implementation

PROVISIONAL EVENT PROGRAM
Opening High-Level Statements

  • H.E Ken Ofori-Atta, Hon. Minister for Finance of Ghana and V20 Chair
  • Nakeeyat Dramani, CVF Youth Ambassador
  • H.E. Mohamed Nasheed, Founding President of the CVF

Keynote addresses

  • H.E. António Guterres, Secretary-General of the United Nations
  • Dr. Kristalina Georgieva, Managing Director, International Monetary Fund

Summary/Adoption of the Senior Officials Meeting Report – Chair of the V20 Senior Officials’ Meeting (Ghana)

Ministerial Roundtable 1: G7-V20 Global Shield against Climate Risks and debt sustainability

  • Hon. Ministers of Finance of Fiji, the Philippines, The Gambia and further Hon. V20 Ministers of Finance
  • Hon. Ministers/High-Level Representatives of Germany, United Kingdom, Canada, European Union and representatives of further G7 Ministers
  • High-Level Global Shield financing vehicles representative(s)
  • High-Level Representative(s) of Philanthropy
  • Moderated by H.E. Svenja Schulze, Hon. Minister for Economic Cooperation and Development, Germany

Ministerial Roundtable 2: Transformation of international finance for climate prosperity

  • Hon. Ministers of Finance of Sri Lanka, Colombia, Senegal and further Hon. V20 Ministers of Finance
  • Hon. Ministers/High-Level Representatives of India, France and representatives of further G20 and partner government Ministers
  • High-level Multilateral Development Banks representatives
  • Representative of the joint G24-V20 Task Force on Climate, Development and the IMF
  • Representatives from partners and the private sector including Glasgow Financial Alliance for Net Zero (GFANZ)
  • Moderated by Prof. Dr. Patrick Verkooijen, CEO, Global Center on Adaptation

Adoption of V20 Communique – Chair of the V20 Senior Officials’ Meeting (Ghana)

Closing and Way Forward

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