Small island states are sinking deeper into debt whilst being hit hard by climate change disasters. This project aims to secure debt relief and grants ‚Äì not loans ‚Äì for disaster recovery, so small islands don‚Äôt end up paying a double price.
It ran from 12:00 PM, 27 November 2018 to 12:00 PM, 4 December 2018
Registered Charity in England and Wales (1055675)
Small island states like those in the Caribbean did little to cause the global problem of climate change. But they are paying a double price for it. On the frontline of growing climate impacts, they face increasingly frequent and devastating disasters, with big economic costs and loss of life. Hurricanes now regularly cause hundreds of millions of pounds of damage each year. And lack of international support means small island states must borrow to rebuild, sinking them ever deeper into debt.
Working with global partners, this project will secure debt relief for heavily-indebted small island states on the frontline of climate change, and ensure they receive grants not loans to fund recovery and reconstruction from future disasters. By reducing debt levels and stopping countries like Dominica and Grenada from having to take on new debt in response to disasters, the project will help build economic resilience and ensure they can use scarce public funds to address pressing social needs.
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