PH to head group of 20 countries
The Philippines will head the inauguration of the Vulnerable Twenty or V20, a group of finance ministers from 20 countries that are vulnerable to the impact of climate change.
V20 groups Afghanistan, Bangladesh, Barbados, Bhutan, Costa Rica, Ethiopia, Ghana, Kenya, Kiribati, Madagascar, Maldives, Nepal, Philippines, Rwanda, Saint Lucia, Tanzania, Timor-Leste, Tuvalu, Vanuatu and Vietnam.
The Finance Department said in a statement V20 would be established on Oct. 7 and 8 during the upcoming annual meetings of the World Bank Group and International Monetary Fund in Lima, Peru. The inauguration will be chaired by Finance Secretary Cesar Purisima.
The V20 was foreseen in the 2013-2015 Climate Vulnerable Forum Costa Rica Action Plan that initiated dedicated cooperation among Ministers of Finance.
The establishment of V20 seeks to enable the vulnerable countries to steer a high-level policy dialogue pertaining to action on climate change and the promotion of climate resilient and low emission development.