Ramaphosa tells leaders developing nations need climate finance, but not debt | Fin24

The investment plan was formally handed over to heads of state of the International Partners Group, including Rishi Sunak of the UK, Emmanuel Macron of France, and Ursula von der Leyen, who heads the European Commission. Ramaphosa said that for the transition to succeed, more financial support is needed – especially larger grant funding.Other developing nations hoping to follow a similar path will also face financing challenges.

"Their business models must be modernised so that they can efficiently mobilise financing at scale and deploy a full suite of instruments from grants to guarantees, across the entire range of countries they work with."Ramaphosa called for the use of non-debt instruments, like grants, to support developing economies. This would ensure that climate finance does not worsen their debt burdens.

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LameezOmarjee But your navy conducts drills with the russians....if you want western cash you can't sit on the fence forever...

LameezOmarjee President Cyril Ramaphosa has told world leaders at the UN climate talks that developing economies need more climate finance, but not in the form of debt. So the Government Off South Africa can spend on destruction to the environment!!!!!!!!

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