Recently, the finance ministers and experts of 20 different countries had a meeting where the agenda was to discuss on the rapid climate change. Several possibilities were discussed and avenues were shortlisted which need to be explored for fixing the issue.
Representatives of 20 countries were present in the meeting and the ministry launched ‘V20’ in joint collaboration. The International Monetary Fund and World Bank organized an annual meeting where this crucial topic was discussed.
Listed below are some of the interesting facts that you must know about the ‘V20’ summit.
- The 20 countries who are part of the V20 summit are
- Costa Rica
- East Timor
- Saint Lucia
- Vanuatu and
- Each one of these 20 countries has largely contributed to the global population. More than 700 million live in these countries.
- The nations have agreed to establish a climate risk pooling mechanism for operating the natural disasters.
- The developed nations are willing to spend 100 billion dollars every year by 2020 for this purpose. As of yet, the amount has reached 62 billion dollars.
- The V20 countries have also reported about several casualties due to the natural phenomenon and major climatic changes. 50,000 deaths have taken place in these countries in recent years.
- The global organizations are offering help to the V20 countries by means of launching different crisis management schemes along with some climate resistance programs.
These are some of the facts that have been discussed in the V20 summit.