Good news on climate loans
For the past two years WDM along with the Jubilee Debt Campaign have been campaigning for the UK government to deliver its climate finance to help countries cope with climate change as grants through the UN Adaptation Fund rather than loans through the World Bank. We are pleased that the UK government will now be putting £10 million towards the UN Adaptation Fund.
It will also give another £85 million through the World Bank’s adaptation fund. Although it’s disappointing that the money is going to the World Bank, the good news is that this time the UK has given the majority of its money, £70 million, as grants, not loans. This is a significant change from its previous policy.
WDM and JDC campaigners have done an amazing job in bringing this issue to the attention of politicians and decision makers in a way that they could not ignore.