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African nations push for more climate finance ahead of COP

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African ministers meeting in Cairo two months ahead of the COP27 climate summit called on Friday for a sharp expansion of climate financing for their continent while pushing back against an abrupt move away from fossil fuels.

FILE PHOTO: Nigerian Finance Minister Zainab Ahmed attends the IMF and World Bank's 2019 Annual Spring Meetings, in WashingtonCAIRO -

It urged rich countries to meet and expand climate pledges, and said poor countries should be able to develop economically while receiving more funds to adapt to the impact of climate change. Nigerian Finance Minister Zainab Ahmed told the Cairo forum that gas was a matter of survival for her country.

It suggested the creation of a sustainable sovereign debt hub that could reduce the cost of capital for developing states and support debt-for-nature swaps.

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