Civil society organizations, including Change Initiative and YPSA, have urged a transition from loans to grants regarding climate finance ahead of COP31. The organizations highlighted that climate-vulnerable nations are effectively paying twice for the crisis. Data from a new index indicates that in 55 countries, debt repayment obligations currently exceed the total climate finance received.
International
CSOs advocate for grants instead of loans for climate finance at COP31
Change Initiative and YPSA warn that climate-vulnerable nations are paying double for the crisis due to excessive debt repayments.
Source: TBS Bangladesh