JFI and CVF-V20 Advance Proposal for Multi-Sovereign Investment Fund at World Bank & IMF Annual Meetings

A series of engagements at the World Bank Group and IMF Annual Meetings in October 2025 saw significant progress on South-led multi-sovereign climate investment fund proposal

Press Release

WASHINGTON, D.C.— The Jain Family Institute (JFI), with the support of the Climate Vulnerable Forum and Vulnerable Twenty Group (CVF-V20) secretariat, reconvened at the World Bank Group and IMF’s Annual Meetings last week to advance ongoing discussions exploring the creation of a member-led multi-sovereign investment fund (MSIF) that would anchor and channel critically-needed climate financing in the Global South through country-led Climate Prosperity Plans developed with the CVF-V20. 

JFI’s Senior Vice President Paul Katz and Senior Research Associate Sina Sinai joined bilateral meetings with the CVF-V20 secretariat on Thursday to align on strategy to engage the multilateral organization and its members in shaping the multi-sovereign investment fund proposal.

On Friday, Katz presented the MSIF working group proposal at the Climate Prosperity Roundtable, titled A Running Start Toward Grounded Delivery, which included ministers and representatives from Barbados, Ghana, Bhutan, The Gambia, Bangladesh, Philippines, and Haiti, all of which are developing or have recently launched Climate Prosperity Plans. The day’s exchanges, including discussion of the MSIF proposal, are captured in the official chair’s summary available here.

The week ended with JFI’s participation in the 15th V20 Ministerial Dialogue, titled Unlocking Fiscal Space for Climate Prosperity and Resilience, which featured over forty ministers and high-level officials from the V20 membership as well as senior officials from the World Bank, IMF, intergovernmental organizations, multilateral climate funds, regional development banks and insurers, and other civil society organizations. 

Despite a turbulent multilateral environment more broadly, the meetings reaffirmed a clear consensus, as found in the most recent Climate Vulnerable Forum Leaders Declaration and 15th V20 Communiqué, that reforms to the international financial architecture and new South-led models of climate cooperation and innovation are needed to deliver on the equitable and sustainable country-led development vision of the Climate Prosperity Plans. JFI and the Secretariat look forward to continuing to work closely together to advance these critical objectives.

About the Climate Vulnerable Forum and Vulnerable Twenty Group

The Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20) is an international partnership of 74 countries highly vulnerable to a warming planet representing 1.81 billion people, or 22.4% of the global population, 3.83% ($4.1 trillion) of global GDP. Despite only contributing 7.3% of global emissions, they face some of the most severe climate impacts. Serving as a South-South cooperation platform, it unites member governments to act together to achieve long-term climate resilience and prosperity. 

About the Jain Family Institute
The Jain Family Institute (JFI) is a 501(c)(3) nonprofit applied research organization founded in 2014 by Bobby Jain. JFI applies the instruments and frameworks of finance to issues of global policy concern. Working to understand and coordinate international channels of public and private capital, the institute applies data, modeling, and simulation tools to the most pressing challenges of our time.

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