“Climate finance should be provided in the form of grants and not loans," UN Independent Expert on foreign debt and human rights Cephas Lumina said in a statement.
“Climate loans will add to the existing external debt burdens of recipient countries, many of which simply do not have the capacity to repay further loans without undermining their already precarious development prospects."
The Green Climate Fund was created during last year's conference in Cancún, Mexico, to help developing nations protect themselves from climate impacts and build their own sustainable futures.
But the fund has not been launched yet, and Secretary-General Ban Ki-moon called on developed countries this week at the UN Climate Change Conference in Durban, South Africa, to inject the necessary capital to kick-start it.
Mr. Lumina called on UNFCCC members to ensure the fund adopts a “country-driven approach and promotes meaningful and effective participation of all stakeholders, including communities, farmers, workers, women and other marginalized groups." Read the full report here.
Source: UN News Centre.
