News Formal

Creecy: Climate finance shouldn't worsen Africa's debt burden

  • 📰 News24
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 80%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Minister Barbara Creecy says that climate finance requires innovation, so that it does not increase the debt burden for African and developing countries nor require sovereign guarantees.

Minister Barbara Creecy has reiterated previous calls for climate finance not to worsen the debt burden for Africa.

The summit is themed around driving green growth and climate finance solutions for the continent and the rest of the world. Creecy noted the importance of accessing grant and concessional finance – something which she has also advocated for at UN climate summit, COP27, last year. She said that South Africa's position is that non-debt finance instruments be deployed. This includes not requiring sovereign guarantees for finance:

"Climate change impacts will be genuinely felt during the lifespan of the planned and future infrastructure within the coming decade," Creecy warned.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Africa Climate Summit in Kenya to urge investment in continentThe first Africa Climate Summit aims to reframe the continent as an emerging renewable energy powerhouse and calls on international financial assistance to actualise its potential.
Source: ewnupdates - 🏆 30. / 53 Read more »