Germany would be the first country to accept the proposal of Gustavo Petro’s Government to exchange debt for climate action with Colombia. This is what the Colombian Foreign Minister, Luis Gilberto Murillo, said at the COP16 that is progressing in Cali.
(Read: Swap debt for climate action: EU will discuss Petro’s proposal).
According to Foreign Minister Murillo, It will be Germany that makes the proposal and concrete announcement of the amount to be exchanged in the next few hours.
Murillo stated that it also seeks to show some financial mechanisms that can help confront the planetary climate crisis in joint work between developed and developing countries.
(See: The seven agreements that unblocked the path to reform of the transfer system).
Luis Gilberto Murillo, Minister of Foreign Affairs
César Melgarejo / Portfolio
This decision arose from the recommendations provided by the panel of experts on debt, climate and nature that was launched during COP28 on Climate Change in Dubai.
As revealed by the chancellor, not only will debt swap announcements be made, but also other financial mechanisms that the panel recommended.
(Also: The dollar in Colombia rose this Monday, driven by the fall in oil prices).
“Germany is going to make some very important announcements in today’s plenary session regarding financial support, in connection with the climate response”Murillo highlighted.
PORTFOLIO
With information from EL TIEMPO
