BAKU, Azerbaijan, November 16. Developing
countries need more funding to fight climate change, Financial
Advisor on Partnership and Development of the UN Resident
Coordinator’s Office in Azerbaijan Shamsiyya Mustafayeva said,
She spoke at the II Baku Forum on Sustainable Development.
“Developed countries annually allocate $100 billion to help
developing countries fight climate change, but now we see that we
actually need from $4 to $6 trillion for this purpose,” she
Mustafayeva stated that high interest rates for these countries
could result in onerous debt repayment terms.
“Developing countries are giving away every dollar.” They will
have to spend eight times as much to repay the debt,” she
The II Baku Forum on Sustainable Development is aimed at
strengthening the experience exchange and cooperation with regional
countries and international organizations in the implementation of
the UN 2030 Agenda.
The event is attended by high-ranking officials from Europe and
CIS countries, representatives of the UN, international financial
and regional organizations, government institutions,
representatives of civil society and private sector, as well as
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