Sri Lanka president urges debt relief to help green transition – Reuters

BEIJING, Oct 18 (Reuters) – Sri Lanka’s president on Wednesday said debt relief for low-income countries should be part of the green transition and inaction on debt could pose an existential threat to China’s Belt and Road Initiative.

Speaking at a panel on greening the Belt and Road Initiative in Beijing, President Ranil Wickremesinghe said Sri Lanka’s Climate Prosperity Plan requires investment of $26.5 billion through to 2042 and its roadmap for carbon neutrality needs $100 billion through to 2050.

“These are a very heavy burden for Sri Lanka, but we are determined somehow to ensure that we can mobilise the resources,” he said. “But this is not the case in all countries, a number of countries are unable to find the necessary financia…

Read the full article at: https://www.reuters.com/world/asia-pacific/sri-lanka-president-urges-debt-relief-help-green-transition-2023-10-18/