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The Independent UK
The Independent UK
National
Kelvin Chan

Barbados spearheads push on climate disaster financing

Copyright 2022 The Associated Press. All rights reserved

At the U.N. climate summit in Egypt, leaders of developing nations have repeatedly said it's not fair to expect them to cover the costs of rebuilding from devastating weather events in a warming world, plus invest in cleaner industry while they also pay much higher interest rates on loans than rich nations.

A plan put forward by Barbados Prime Minister Mia Mottley would overhaul the way much of development lending works. It is also giving voice to developing nations struggling under rising debt from climate damage.

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