Climate-vulnerable countries are positioning themselves to access more affordable capital with longer repayment rates under a new Vulnerability to Viability (V2V) Compact, in partnerships with development finance institutions, led by the OPEC Fund for International Development (OPEC Fund).

Bringing together 74 climate-vulnerable economies and over 15 partner development finance institutions, the V2V Compact provides a platform for aligning finance, expertise, and country-led priorities.

In parallel with V2V launch, work is continuing to make the Compact operational. A White Paper on practical mechanisms for the implementation of the initiative is scheduled to be launched at the Annual Meetings of the World Bank and the International Monetary Fund in mid-October in Bangkok. It comes as the World Bank's 2021-2025 Climate Change Action Plan is set to expire at the end of June, with several nations worried that it may water down critical climate commitments.

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