On average, said Ruto, developing countries paid five times as much as advanced economies when borrowing from financial markets.
This is what has driven emerging economies to express interest in joining Brics – ready to open an account with its New Development Bank.
Said Ruto: “Let me be clear, these conversations are necessary. Africa’s carbon footprint remains small, but the human toll of climate change is disproportionately high. Not mincing his words, UN secretary-general Antonio Manuel de Oliveira Guterres concurred: “An injustice burns at the heart of the climate crisis. And its flame is scorching hopes and possibilities here in Africa.
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