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Paying Africa's Climate Bill

Finance & Development, 2024-03, Vol.61 (1), p.44-47

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Title:
Paying Africa's Climate Bill
Author: Olabisi, Michael
Subjects: Alternative energy ; Climate action ; Climate change ; Developing countries ; Economic development ; Economic growth ; Emissions ; Energy transition ; Farms ; Funding ; GDP ; Greenhouse gases ; Gross Domestic Product ; International finance ; LDCs ; Private sector ; Renewable resources ; Revenue sharing
Is Part Of: Finance & Development, 2024-03, Vol.61 (1), p.44-47
Description: A GLOBAL APPROACH TO CLIMATE CHANGE REQUIRES PRIVATE SECTOR FINANCIAL FIREPOWER The world's poorest countries, especially those in Africa, are struggling to pay for investment to stave off a climate crisis they did not create. [...]investment needs are beyond the capacity cf the world's multilateral lending and development institutions. Even if you added the entire $1 trillion lending capacity of the IMF to the $400 billion lending portfolio of the World Bank, it is clear that the global financial institutions do not have the lending capacity to address climate change at the speed and scale needed. [...]public debt may not be the most effective financingmechanism far some efthe most promising climate interventions.
Publisher: Washington: International Monetary Fund
Language: English
Identifier: ISSN: 0015-1947
EISSN: 1564-5142
Source: Alma/SFX Local Collection
ProQuest Central

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