President of the Republic calls for urgent additional climate finance for Cabo Verde

Praia, 30 Jun (Inforpress) - Today, in Seville (Spain), the President of the Republic called for additional, predictable and adaptation-orientated climate funding in areas such as renewable energies, coastal protection, water management and ocean sustainability in Cabo Verde.

José Maria Neves was speaking during the plenary session of the IV International Conference on Financing for Development, which is taking place in Seville, where he said that the annual shortfall of 4 billion dollars in financing the SDGs is not just a figure, but a global warning.

In a press release sent to Inforpress, Neves stressed that this was ‘a reflection of the structural asymmetries of the international financial architecture, which continues to penalise developing countries and, in particular, small island states’. 

"Cabo Verde is well aware of these limitations. We have reformed public finances, expanded the tax base fairly, digitised processes, and aligned fiscal and budgetary policies with the SDGs,‘ he said, noting that ’no amount of internal prudence can compensate for the systemic constraints of a system that remains poorly accessible, unfair and unresponsive to our realities."

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