Kenyan President William Ruto says Africa and other developing countries need fairness in the international market as againstRuto spoke at the Climate Ambition Summit organised by Antonio Guterres UN general secretary on the sidelines of the 78th United Nations General Assembly in New York.
“Neither Africa nor the developing world stands in need of charity, handouts or alms from the developed countries,” Ruto said.“What we need is fairness, a fair financial system, fair market access for green assets, products and services, fair national and regional trade mechanisms which promote fair competition to facilitate efficient deployment of capital in locations offering the highest comparative advantage for global decarbonization.
“The Nairobi Declaration advocates the following specific measures – to begin with, new debt relief instruments and interventions to proactively manage debt default principally through the extension of tenure of existing sovereign debt and the provision of a 10-year grace period.
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