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    • News
    • The Road to COP 28

    Making development finance work in an era of climate emergency

    Pepukaye Bardouille, director of the Bridgetown Initiative unit of the Barbados government, joins the Climate + podcast to discuss how to make the development finance architecture fit for purpose.

    By Michael Igoe, Naomi Mihara, Raj Kumar // 27 November 2023
    <a class="spreaker-player" href="https://www.spreaker.com/episode/57808282" data-resource="episode_id=57808282" data-width="100%" data-height="200px" data-theme="light" data-playlist="false" data-playlist-continuous="false" data-chapters-image="true" data-episode-image-position="right" data-hide-logo="true" data-hide-likes="false" data-hide-comments="false" data-hide-sharing="false" data-hide-download="true">Listen to "Making development finance work in an era of climate emergency" on Spreaker.<script async src="https://widget.spreaker.com/widgets.js"></script></a> Listen on Spotify, Apple Podcasts, or search “Devex” in your favorite podcast app. The Bridgetown Initiative, an ambitious set of proposals to overhaul how development finance works spearheaded by Barbados Prime Minister Mia Mottley, has been front and center of discussions about climate finance since its unveiling at last year’s United Nations Climate Change Conference, or COP 27. The initiative aims to address some of the inequalities that exist in the current financial architecture — such as the fact that high-income countries are able to borrow at much more favorable interest rates than lower-income countries — by calling for additional financial support to countries, help with debt restructurings, and more private capital for green projects in low- and middle-income countries. Pepukaye Bardouille, who comes from the climate-vulnerable Caribbean island nation of Dominica, is the director of the Bridgetown Initiative unit of the Barbados government. She joined Devex President and Editor-in-Chief Raj Kumar on the Climate + podcast to discuss how to make development finance institutions fit for purpose and why the availability of cheaper, longer-term financing is critical for addressing climate change. “It's not just about reallocating the resources that are currently available. It's about growing the pie,” said Bardouille. “The reality is that the financing that has been committed to address the crises that we're facing globally is simply not enough.” The Climate + podcast is supported by the World Bank. Join Devex on Dec. 7 on the sidelines of COP 28 in Dubai or online from anywhere for the Climate + summit. Register here.

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    Listen to "Making development finance work in an era of climate emergency" on Spreaker.

    Listen on Spotify, Apple Podcasts, or search “Devex” in your favorite podcast app.

    The Bridgetown Initiative, an ambitious set of proposals to overhaul how development finance works spearheaded by Barbados Prime Minister Mia Mottley, has been front and center of discussions about climate finance since its unveiling at last year’s United Nations Climate Change Conference, or COP 27.

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    About the authors

    • Michael Igoe

      Michael Igoe@AlterIgoe

      Michael Igoe is a Senior Reporter with Devex, based in Washington, D.C. He covers U.S. foreign aid, global health, climate change, and development finance. Prior to joining Devex, Michael researched water management and climate change adaptation in post-Soviet Central Asia, where he also wrote for EurasiaNet. Michael earned his bachelor's degree from Bowdoin College, where he majored in Russian, and his master’s degree from the University of Montana, where he studied international conservation and development.
    • Naomi Mihara

      Naomi Mihara

      Naomi Mihara is an Associate Editor for Devex, working on creative and audiovisual projects. She has a background in journalism and international development, having previously served as an assistant correspondent for Japanese newspaper The Yomiuri Shimbun and as a communications officer for the International Organization for Migration in Southeast Asia. She holds a master’s degree in Multimedia Journalism from Bournemouth University.
    • Raj Kumar

      Raj Kumarraj_devex

      Raj Kumar is the President and Editor-in-Chief at Devex, the media platform for the global development community. He is a media leader and former humanitarian council chair for the World Economic Forum and a member of the Council on Foreign Relations. His work has led him to more than 50 countries, where he has had the honor to meet many of the aid workers and development professionals who make up the Devex community. He is the author of the book "The Business of Changing the World," a go-to primer on the ideas, people, and technology disrupting the aid industry.

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