developing countries News

G7 Endorses African Risk Capacity Program as Model for Climate Insurance

An announcement from African Risk Capacity (ARC) notes that “G7 leaders have singled out Africa’s first parametric catastrophe insurance pool, as a model upon which to develop catastrophe insurance solutions in vulnerable regions. “During the 41st G7 summit in June, …

Oxfam Report Says World Unprepared for Threats from Warmer Climate

The world is “woefully unprepared” for the threat to food security from drought and flooding brought on by a warming climate, the development charity Oxfam said. In addition to extreme weather patterns, more marginal shifts such as small increases in …

Dirty Money Costs Developing World $6 Trillion, Led by China -GFI Report

Crime, corruption and tax evasion have cost the developing world nearly $6 trillion over the past decade, and illicit funds keep growing, led by China, a financial watchdog group said in a new report. China accounted for almost half of …

EU Finance Ministers Reaffirm Climate Funding for Developing Countries

EU finance ministers on Tuesday signed off on more than €4 billion ($5.5 billion) in short-term funding to help developing countries adapt to climate change and curb emissions — even as they met to grapple with Europe’s debt crisis. Draft …