Past Event

Weathering the Storm: Bridging the Resilience Finance Gap for Small Islands

Small islands urgently need to build climate resilience and address their unique vulnerabilities. Drawing on lessons from the Maldives, Pacific Atoll, Grenada and Cape Verde, this event will explore solutions and financing options, including building greater international and private sector partnerships.

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Small island developing states (SIDS) are uniquely vulnerable to, and are already feeling the impacts of, climate change. This vulnerability is compounded by the size of their economies and vulnerability to macro-economic shocks. As a result, adaptation investment needs are large for these islands, but access to finance is limited. This event will explore the urgent need for adaptation finance SIDS.

Presenting key lessons from the SIDS around the globe, the session will underscore the critical role of targeted investments and adaptation measures in climate and disaster risk mitigation. The discussion will highlight adaptation financing challenges, discuss solutions, and call for strong regional, international, and private sector collaboration.

OVERVIEW
AGENDA
SPEAKERS

In Person: World Bank / IMF/ Financial Times pavilion, Baku, Azerbaijan

Online: Via Webex

LIVESTREAM LINK

Event times	Description
13:00-13:05	Opening Remarks by Anna Wellenstein (Regional Director for EAP, Planet Department)
13:05 – 13:40	Panel discussion A discussion with high-level panelists on existing challenges and experiences in accessing finance for adaptation needs, and views on what it will take to increase access to finance. Panelist members include: Hon. Thoriq Ibrahim, Minister of Climate Change, Environment and Energy, Maldives Hon. Kerryne Z. James, Minister of Climate Resilience, the Environment, and Renewable Energy, Grenada Hon. David Paul, Minister of Finance, The Republic of the Marshall Islands H.E. Alcindo Mota, Secretary of State for Finance, Cabo Verde
13:40-13:45	Closing Remarks by Anna Wellenstein

Anna-Wellenstein

Anna Wellenstein$%

Regional Director for East Asia and Pacific, Planet Department, World Bank (Moderator)

Anna Wellenstein is the Regional Director for Planet in East Asia and Pacific. Ms. Wellenstein is responsible for the World Bank’s agriculture and food, climate change, environment, social, and water portfolios in the region. This includes analytics and financing to the countries of the region totaling around US$10 billion in over 75 projects. Prior to this, Ms. Wellenstein held positions as Regional Director for Sustainable Development for Latin America and the Caribbean and Director for Strategy and Operations of the World Bank’s Social, Urban, Rural and Resilience Global Practice.

Thoriq-Ibrahim

Hon. Thoriq Ibrahim

Minister of Climate Change, Environment and Energy, Maldives

Mr Thoriq Ibrahim is the Minister for Climate Change, Environment, and Energy. This is the second time he has assumed the responsibility of the Ministry, having had filled the position from 2013 - 2018. Mr. Thoriq has chaired the Alliance of Small Islands States, founded the Maldives Ocean Plastics Alliance, and has over 22 years of private sector experience in building services, engineering design, and management of construction projects.

Kerryne-James

Hon. Kerryne Z. James

Minister of Climate Resilience, the Environment, and Renewable Energy; Grenada

Kerryne Zennelle James is the Minister for Climate Resilience, the Environment, and Renewable Energy in Grenada. Known for her proficiency and effectiveness, she has made significant contributions to public service with a focus on diligence and attention to detail. Her academic background in Psychology provides her with a broad understanding of human behavior, societal dynamics, legal frameworks, and environmental stewardship.

David-Paul

Hon. David Paul

Minister of Finance, The Republic of the Marshall Islands

Mr. David Paul is the Minister of Finance, Banking, and Postal Services. As Minister of Finance and previously as Minister-in-Assistance to the President and Environment Minister, Mr. Paul has championed urgent global action on climate change, and has been a strong advocate for adaptation needs in the Pacific Islands.

Alcindo-Mota

H.E. Alcindo Mota

Secretary of State for Finance, Cabo Verde

Mr. Alcindo Mota is the Secretary of State of Finance in 2021, where he plays a key role in shaping fiscal and economic policies. Prior to his current position, Mr. Mota served as the Executive Administrator of Electra, a company responsible for the distribution of electricity. His extensive experience also includes serving as a Non-Executive Director of the Interbank and Payment Systems Company (SISP), which is critical to the infrastructure of the country's financial systems.

Date: November 14, 2024

Time: 07:00 AM - 07:45 AM ET

Location: Baku