BAKU (Azerbaijan), Nov 17 — Trillions of dollars are needed to make poorer nations more resilient to climate change, and studies have estimated that every US$1 invested today...
Sheung Wan Noodle House in Damansara Utama is the newest spot for great Hong Kong-style beef noodles, 'wantan' noodles and Shunde speciality fish curds
But some projects attract money more easily than others, said Avinash Persaud, special climate adviser to the president of the Inter-American Development Bank, a lender for Latin American and Caribbean nations. Avinash Persaud, special climate adviser to the president of the Inter-American Development Bank, attends the United Nations Climate Change Conference in Baku on November 16, 2024. — AFP picBut governments are limited in the amount they can borrow, he said, and reluctant to dip into their budgets for climate adaptation in poorer nations.
“You’re seeing the political landscape – governments are not getting elected to raise their aid budgets and send more money abroad,” said Persaud.A defensive sea wall, for example, might not pay off for decades, making it difficult for debt-strapped countries to borrow enough money at reasonable rates to build it in the first place.
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