Climate Finance Strategies for Developing Nations

The developing world has been hit especially hard by the effects of climate change, including droughts, floods, food shortages, and disease, and it needs clean energy now more than ever, according to a new report from the World Bank.

The report, titled "The Economic and Social Impact of Climate Change on the Developing World," notes that developing countries are already struggling with food shortages, rising sea levels, and disease, and they need clean energy now more than ever, the New York Times reports.

The report, which calls climate change the "largest environmental challenge facing the developing world," notes that developing countries need to get creative in how to meet their energy needs without hurting their economic growth.

Some countries are already moving in that direction.

For example, the United Arab Emirates has set a goal of using clean energy, including nuclear, nuclear power, and solar power, by 2050, the Times reports.

But the World Bank's report notes that it's difficult to get financing for renewable energy in developing countries, where interest rates are often high and capital is hard to come by.

"Overcoming these hurdles isn't just about fighting climate crisis; it's about ensuring equity in accessing crucial tools for survival and progress," the Times of India quotes the report as saying

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