World Bank offers developing countries debt pauses if hit by climate crisis

Move at Paris summit on global finance will only apply to repayments on new loans Poor countries will be able to pause their debt repayments if hit by climate disaster, under plans announced by the World Bank at the finance summit in Paris.The international development organisation said it would insert new clauses in any agreements with developing countries, allowing them to suspend debt payments in the case of extreme weather events, starting with some of the poorest and most vulnerable nations. Continue reading...