V20 needs roadmap to raise $100B – DOF

The so-called Vulnerable Twenty or V20 member-countries including the Philippines should have a clear roadmap so they could raise an extra $100 billion in funds that would be used to finance projects meant to protect them from the adverse effect of climate change, said Finance Secretary Carlos Dominguez.

“We are asking for a clear roadmap toward the mobilization of $100 billion in additional financing flows to help the most vulnerable countries protect themselves from the ill effects of global warming,” Dominguez said in a speech at the recent V20 High Level Ministerial Meeting held on the sidelines of the recent Annual Fall Meeting of the World Bank and International Monetary Fund in Washington.