Billions of dollars pledged by developed nations in climate finance over the last decade remain unused as poor countries that often most need the money are ill-equipped to spend it, international charity WaterAid said on Tuesday.
Despite donors’ willingness to provide funding, vulnerable countries worst hit by rising climate pressures such as droughts and floods often lack the capacity to implement, manage and oversee projects to help them cope, WaterAid said.
«Countries that are most in need of adaptation finance are also those that are least able to spend it,» WaterAid analyst Louise Whiting told the Thomson Reuters Foundation.
More support is required to help countries get ready to use climate finance «so they can actually spend the money and get it to where it is needed», she added.
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