IBRD Trust Funds - World Bank

Published purpose

This grant represents Canada’s institutional support to the Fund for responding to loss and damage (FRLD). The FRLD uses these funds and other donors’ funding to provide financial assistance to developing countries that are particularly vulnerable to the adverse effects of climate change. This includes addressing both economic and non-economic losses caused by extreme weather events and slow-onset events, such as sea-level rise and desertification. The FRLD operates under the guidance of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). Project activities of this project include: (1) providing financial assistance to developing countries to help them respond to climate-related emergencies, intermediate or long-term recovery, reconstruction or rehabilitation, and displacement, relocation, or migration caused by temporary and permanent loss and damage. Financial support to developing countries also includes actions to address slow onset events, develop national response plans, and address insufficient climate information and data; (2) enhancing the adaptive capacity and resilience of communities through targeted programs and initiatives; and (3) assisting countries mobilize external financing to strengthen their response to loss and damage, while supporting international goals on sustainable development and eradicating poverty.