Publications

This independent evaluation of the Global Shield Financing Facility (GSFF) assesses the Facility’s progress in expanding financial protection against climate shocks, disasters, and crises in vulnerable countries. Covering both GSFF and its predecessor, the Global Risk Financing Facility (GRiF), the report examines the relevance, efficiency, effectiveness, and sustainability of activities supported since 2018. It highlights how GSFF has helped countries design and implement innovative disaster risk financing solutions, influence broader World Bank operations, and strengthen financial resilience through instruments such as sovereign insurance, catastrophe bonds, contingency funds, and adaptive social protection systems. The evaluation also explores GSFF’s role within the broader Global Shield against Climate Risks initiative and identifies opportunities to strengthen coordination, monitoring, sustainability, and learning. Drawing on extensive portfolio analysis, stakeholder interviews, and thematic deep dives, the report provides actionable recommendations to guide GSFF’s future strategic direction and enhance its impact for vulnerable populations worldwide.