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V20 Finance Ministers launch ‘Climate Prosperity Fellowship’

Published : 13 Oct 2023 10:20 PM | Updated : 14 Oct 2023 05:47 PM

The V20 Finance Ministers, in partnership with Boston University's Global Development Policy Center and the Centre for Sustainable Finance at SOAS University of London, on Friday launched the "Climate Prosperity Fellowship" programme.

This initiative aims to advance cooperation and engagement of officials from V20 member countries to address the challenges posed by out-of-date global financial architecture and towards ambitious development-positive climate action through Climate Prosperity Plans (CPPs). 

To support this initiative, a fellowship programme has been established, consisting of 15 mid-to senior-level finance officials from 13 V20 member countries namely Bangladesh, Bhutan, Eswatini, Fiji, The Gambia, Ghana, Haiti, Honduras, Kenya, Maldives, Philippines, Rwanda, and Tonga.

This programme seeks to accelerate their capacity to secure financing for CPPs and fast-tracking their implementation.

The V20 "Climate Prosperity Fellowship" programme is a significant step towards promoting coordination and accelerated support for climate-vulnerable nations.

It will equip fellows with the latest research and analytics needed to develop and implement CPPs while fostering collaboration on vital climate finance and sustainable development solutions.

The programme is aligned with the Accra-Marrakech Agenda and focuses on its four key pillars--Make Debt Work for the Climate; Transform the International and Development Financial System; A New Global Deal on Carbon Financing; and Revolutionize Risk Management for our Climate Insecure World Economy.

The collaboration between V20 Finance Ministers, Boston University and SOAS University of London will enable participants to contribute to global strategies aimed at combating climate change and promoting development-positive climate action.

During the session 2023-2024, over 32 V20 member countries have expressed interest in developing and implementing ambitious national CPPs.

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