Barbados has welcomed the launch of a new initiative, aimed at fast tracking financial support for vulnerable countries to protect against climate and disaster risks.
Ambassador Elizabeth Thompson, Sherpa to Prime Minister Mia Amor Mottley on matters related to the CVF-V20 Barbados Presidency, officially launched the Global Shield Ambition on Wednesday.
The event took place at the United Nations Framework Convention on Climate Change Conference of the Parties or COP29 in Azerbaijan.
Delivering the featured address, Ambassador Thompson underscored the importance of the initiative for debt-strapped countries like those in the Caribbean.
Ambassador Thompson says the Global Shield Ambition offers proven, pre-arranged, country-owned financial solutions which help to create liquidity as the country needs it.