Africa Seeks Finance, Debt Relief to Battle Climate Change
- Continent seeks debt payment pauses to fund climate resilience
- Plan to boost renewable energy almost sixfold outlined
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African leaders called for wide-ranging debt relief and a flood of climate finance to help the continent boost its electricity generation from renewable sources almost sixfold by 2030.
In a declaration signed by leaders at the inaugural Africa Climate Summit in the Kenyan capital, Nairobi, they called for the tenor of sovereign loans to be extended, debt pauses when climate disasters strike and a 10-year grace period on interest payments. Those measures would go some way to allowing some of the world’s most vulnerable countries to bolster their climate resilience and develop their economies, according to the document.