Africa Climate Summit seeks changes to global financial architecture

BUSINESS DAILY © FRANCE 24

According to the International Energy Agency, global investment will need to surge to $2 trillion a year within a decade to reach the Paris climate agreement goals. One of the hurdles to financing the green transition in Africa is ballooning debt. A new paper by the Debt Relief for a Green and Inclusive Project shows the region will face debt servicing costs that are roughly the same as their climate financing needs. For more, we spoke to Kevin P. Gallagher of Boston University's Global Development Policy Center.