Climate Change: G20 rakes N38.398trn from poor countries - ITREALMS

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The group of 20 nations also known as G20, have raked in nearly US$50 billion, about N38,398,500,000,000.00 through debt repayments from the world’s poorest and most climate-vulnerable countries since the COVID-19 pandemic hit, according to new analysis by International Institute for Environment and Development (IIED), reports ITREALMS.

Payments by 58 least developed countries (LDCs) and Small Island Developing States (SIDS) reached $21 billion in 2022 – up from $14 billion in 2021 and $13bn in 2020.