Zero: What Can Save Climate Finance Now? MDBs
Developing countries require trillions of dollars a year to transition to clean energy and build climate-resilient infrastructure. So where will the money come from? Avinash Persaud, special advisor on climate risks to the president of the Inter-American Development Bank, joins Zero to make the case for giving more money to Multilateral Development Banks (MDBs), which already funnel hundreds of billions of dollars a year to poorer countries around the globe, much of which goes to climate projects. His pitch may seem harder to make as the US slashes international climate finance and European countries reduce their overseas aid budgets to support defense spending. But because MDBs multiply the money invested in them, it might be the only pitch that succeeds in the current geopolitical conditions.
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