Nkonkonsa Celebrity Gossip From Africa
President Nana Akufo-Addo has made a plea to the World Bank and the International Monetary Fund (IMF) to help impoverished and vulnerable nations obtain lower-cost loans in order to support their climate action programs.
He made this call at the COP28 climate summit in Dubai, where world leaders are gathering to talk about how to address the global climate issue.
According to Akufo-Addo, traditionally, borrowing costs have been higher for African countries like Ghana and others than for those with greater wealth and resources.
He said that the only way to change this unfair and unsustainable position would be for the IMF and the World Bank to take the lead in closing the wealth disparity.
“Become bridges for countries like my own and the vulnerable countries to be able to access that … Historically the monies that we have access to have been the most expensive monies in the world, we are the poorest people on the people and when we borrow money we pay more for it than those who have money. That is a situation that can only be reversed if the World Bank and the IMF become this catalyst for being able to access the large monies that are out there. I think that for us for what we have seen in Ghana, it is something extremely important. That is one of the important decisions that have been taken by the …. (inaudible)” he said.
Watch the clips below;
IMF, World Bank Loans: Prez Akufo-Addo calls for a fairer lending system to poor nations#MetroNews pic.twitter.com/DBVUZeTrW6
— Metro TV Ghana (@metrotvgh) December 4, 2023
.@NAkufoAddo has urged .@WorldBank .@IMFNews to serve as conduit for easier access to funds for poor and vulnerable nations grappling with the climate crisis.
#cop28 #ccmpcop28 pic.twitter.com/rCHiHgjrct— Eugenia Akorfa Kumi (@Youu_Genia) December 1, 2023
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