Bank Has Plan To Unlock Trillions In Climate (scam) Funding - Pirate's Cove
I’m sure that all sorts of rich Warmists and companies will be happy to pony up money for this
Bank unveils green loans plan to unlock trillions for climate finance
An innovative plan to use public money to back renewable energy loans in the developing world could liberate cash from the private sector for urgently needed climate finance.
Avinash Persaud, a special adviser on climate change to the president of the Inter-American Development Bank (IADB), who developed the proposals, believes the plan could drive tens of billions of new investment in the fledgling green economy in poorer countries within a few years, and could provide the bulk of the $1.3tn in annual climate finance promised to the developing world by 2035.
“This could be an engine for green growth, and produce the trillions needed for climate finance in the future,” he told the Guardian. “It could be a transformation.”
His ideas will be set out in detail at a UN meeting in Germany this week, kicking off negotiations for the Cop30 climate summit that will take place in Brazil this November against a worrying global background for the discussions.
Ah. So, they plan on using Other People’s money, ie, taxpayer money taken without consent by Warmist governments, to be spent elsewhere instead of for the people of those countries.
The proposals by Persaud and others to buy up loans to renewable energy projects in the developing world could allow billions of dollars of private sector cash to flood the sector, in a big boost to global climate finance.
The plan, which is being pioneered by the IADB, would involve getting taxpayer-funded development banks to buy existing loans to green projects in poor countries, which would free up investment from private sector lenders.
Such loans are relatively low risk because they are already performing – but because they are in developing countries, with credit ratings lower than those of rich states – mainstream private sector investors such as pension funds are often forbidden from touching them because of their strict rules on credit worthiness.
But if those loans are backed instead by development banks, which can provide guarantees against default, and which themselves have impeccable credit ratings, the “repackaged” loan finance can meet private sector criteria.
Hmms, sounds like a great way to spread money around as it is siphoned off, and the taxpayers will have no say in this.
