Mozambique’s finance minister is participating in the 17th V20 Ministerial Dialogue in Bangkok, where finance ministers from climate vulnerable countries are discussing how to expand and improve financing for economic development, industrialization and climate resilience. The meeting is taking place alongside the annual meetings of the International Monetary Fund and World Bank Group. Priorities include access to long term concessional finance, mobilization of private investment, stronger national ownership of development strategies and financial instruments that can respond to climate shocks. Participants are also examining risks from El Niño and a potential intensification of extreme weather, with projections cited at the meeting indicating cumulative global economic losses of about USD 3.9 trillion, equivalent to roughly 4% to 5% of global gross domestic product.
Mozambique’s Ministry of Finance joins V20 talks on concessional funding and climate shock financing
Mozambique’s finance minister is participating in V20 discussions on expanding concessional and private financing for climate vulnerable developing countries. Priorities include climate shock instruments and stronger national ownership of development strategies, amid projected global losses of about USD 3.9 trillion from worsening extreme weather.