Seychelles Takes Issue With Climate Financing Support Criteria
- Nation may miss out on funding due to wealth categorization
- Estimated $600 million needed to respond to climate change
This article is for subscribers only.
Seychelles’ finance minister called for an overhaul of the criteria used to determine which countries should qualify for support to deal with the fallout of climate change, because existing benchmarks don’t cater for some of those most in need.
An Indian Ocean archipelago of 115 islands, Seychelles is considered by the International Monetary Fund to be “exposed to a disproportionately high economic, social and environmental impact arising from climatic shocks and natural disasters.” Despite its vulnerability, the country of about 100,000 people doesn’t qualify for some concessional funding because of its relatively high per-capita gross domestic product.