African Leaders Seek Record World Bank Financing to Combat Climate Change

African leaders on Monday called for rich countries to commit record contributions to a low-interest World Bank facility for developing nations that they rely on to help fund their development and combat climate change. Donors will make their cash pledges to the International Development Association (IDA), a World Bank institution that offers loans with low interest rates and long tenures, at a conference to be held in Japan in December…African economies [are] facing a “deepening development and debt crisis that threatens our economic stability, and urgent climate emergencies that demand immediate and collective action for our planet’s survival,” [Kenya’s President William Ruto] said. (Reuters)