06/12/2022
Recent analysis by the World Bank shows that African countries need to raise 1.6 trillion dollars by 2030 to meet their nationally defined contributions to combat climate change. So far Africa has only received 18 billion dollars.
The International Monetary Fund (IMF) must deploy new special drawing rights that would reallocate its reserve currency to finance Africa Climate projects. Only 5% of Special Drawing Rights (SDR) flow to African nations.
https://medium.com/.joel/climate-finance-africa-in-constraint-fiscal-space-b9a9d7be3dcb.
Published on 5th December, 2022