CHINA AND SAUDI ARABIA AMONG NATIONS RECEIVING CLIMATE LOANS, ANALYSIS REVEALS
https://i.guim.co.uk/img/media/2f51269a2d0321fde8efae056a1398ffd37ba2c7/236_0_3029_2424/master/3029.jpg?width=140&quality=85&auto=format&fit=max&s=4bf6c522b38ab21f9de426d87180b620
✍️ China and wealthy petrostates are among the countries receiving large sums of climate finance, despite warnings that many cannot afford the terms and interest repayments.
👉 China and wealthy petrostates are among the countries receiving large sums of climate finance 👉 Most of the funding goes to developing countries, with India being the single largest recipient 👉 The majority of the funding is in the form of loans, which can push governments further into debt traps 👉 The least developed countries receive a small portion of the funding, with many receiving more than two-thirds of their climate finance in the form of loans 👉 The global financial system needs to be reformed to address the root causes of many crises
-- #JoeThwaites #SarahColenbrander #RituBharadwaj #ShakiraMustapha #China #SaudiArabia #UAE #Japan #Romania #Serbia #Balkans #EU #Haiti #Mali #Niger #SierraLeone #SouthSudan #Yemen #India #Israel #Korea #Qatar #Singapore #Togo #Tonga #Tanzania #environment
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