The Ministry of Finance of the Federal Government of Somalia has officially submitted its Request for Support to the Global Shield against Climate Risks, marking an important milestone in the country’s efforts to strengthen financial protection against climate and disaster shocks.
The submission is the outcome of Somalia’s Global Shield In-Country Process, a country-led effort, under the leadership of Ministry of Finance, that brought together government institutions, development partners, civil society, and the private sector to assess climate and disaster risk financing needs and identify priorities for strengthening financial resilience.
As part of the process, Somalia completed a Stocktake and Gap Analysis, which assessed the country’s climate and disaster risk financing landscape, identified key financial protection gaps, and informed the development of the Request for Support.
The Request for Support focuses on four priority areas:
🔹 Developing sovereign climate risk modelling and disaster risk financing frameworks
🔹 Strengthening climate risk data, hazard coverage, and analytics
🔹 Expanding shock-responsive social protection and anticipatory action systems
🔹 Enhancing inclusive financial protection solutions, including Somalia’s takaful sector
These priorities will help strengthen Somalia’s ability to anticipate, prepare for, and respond to climate and disaster risks while protecting vulnerable communities from the growing impacts of droughts, floods, and other climate-related shocks.
This milestone comes alongside the recent launch of a Disaster Risk Financing Strategy in Somalia, supported by the World Bank, reinforcing the country’s commitment to building a more predictable, coordinated, and sustainable approach to managing climate and disaster risks.