Climate Change platform for poor countries

The World Bank and International Monetary Fund have launched a platform to advise the poor countries on funding for conservation and climate activities. 

Current Scenario

• According to the World Bank and IMF, twin global problems. They are as follows:

• The need to restructure or reduce the heavy debt burden of poor countries

• The need to reduce fossil fuel emissions contributing to climate change

• Therefore, the solution of including climate change into the debt restructuring process will help motivate sovereign lenders to write off a certain percentage of debt of poorer countries. 

About the platform

• The advisors in the platform will include officials from United Nations, private investors and ratings agencies.

• The platform is supported by the G20 economies as well.

• Three countries such as Chad, Ethiopia and Zambia have initiated the negotiations with the creditors under the new platform.