Reuters exclusively reports World Bank, IMF eye ways to link debt relief to climate change spending

Reuters exclusively reported that the World Bank and the International Monetary Fund are planning to launch a platform to advise poor countries on funding climate and conservation activities, amid a broader push that could link such spending to debt relief. The advisers would include U.N. officials, a non-governmental organization, private investors and even ratings agencies with expertise in sourcing investment, including grants, low- or no-interest loans and conditional debt reliefs. The initiative reflects growing recognition that the economic turmoil of the COVID-19 pandemic has exacerbated budget constraints and debt challenges that hamper the ability of some countries to transition to clean energy, protect wildlife or make infrastructural changes to prepare for climate impacts.