Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
Opinion
Opinion
Macroscope
As the world scrabbles to fund climate action, China’s debt relief could be key
- If markets cannot mobilise the funds needed to save the planet, then payment in kind may be more realistic
- China is leading the way with debt forgiveness, easing pressure on developing nations to exploit their natural resources – and linking debt relief to climate action
Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
