During the 'Power Our Planet: Live in Paris campaign', the President of the World Bank, Ajay Banga announced the new debt pause option for countries suffering in the aftermath of a natural disaster.
He took a stage alongside the Co-Chair of the Power Our Planet campaign, Mia Mottley, Prime Minister of Barbados, to announce a fundamental shift in the World Bank's policies, in light of the impacts of the climate crisis on developing countries.
"Today I am proud to announce a new debt pause option for countries suffering in the aftermath of a natural disaster. It gives governments, and leaders like Mia [Mottley] a break from repaying their debts so that they can focus on recovery — they shouldn't need to worry about paying the bills, and that was made possible because of you," he said.
