Developing countries need $80-100b annually in concessional finance for Climate Action: Munir

Pakistan has said that the developing countries need eighty to one hundred billion dollars annually in concessional finance for Climate Action.

Making a statement during a meeting of the Group of Friends for Sustainable Energy, in New York, Pakistan’s Permanent Representative to the UN Munir Akram said current pledges fall short and lack concessionality thus hindering progress towards vital targets.

Munir Akram said without concessional finance, achieving climate goals is at risk.

He said there is a need to build synergies between the UN, public and private sectors in order to scale up investment in sustainable infrastructure for the energy transition.

Source: Radio Pakistan