Africa: Two Thirds of Climate Funding for Global South Is Loans As Rich Countries Profiteer From Escalating Climate Crisis
New research by Oxfam and CARE Climate Justice Centre, published today, finds developing countries are now paying more back to wealthy nations for climate finance loans than they receive- for every 5 dollars they receive they are paying 7 dollars back. 65% of funding is delivered in the form of loans. This form of crisis…