ActionAid Warns Debt Crisis Is Undermining Africa’s Climate Action
Originally published by News – Capital FM — Read the original article →
NAIROBI, Kenya Nov 2 – African countries vulnerable to climate change are diverting significant public resources towards debt repayments at the expense of climate action, food security and investments in resilience, according to new reports by ActionAid.
The reports warn that rising sovereign debt and the continued reliance on loans rather than grants for climate financing are worsening the financial constraints facing developing countries.
Teresia Anderson, ActionAid International’s Global Lead on Climate Justice, said the combination of climate change and mounting debt was creating a cycle in which countries are forced to borrow to recover from climate-related disasters, leaving them with fewer resources to prepare for future shocks.
