The United States is holding back $2.6 billion that was supposed to help South Africa with climate change. This news is concerning because it might mean that the money will not be given out at all. According to Bloomberg News, the U.S. stopped a plan to give $500 million from a World Bank program that helps fight climate change.
This money was important because it could also unlock an extra $2.1 billion from other banks and financial groups. There will be another meeting in June to discuss giving out these funds again.
The Climate Investment Funds (CIF) is a big program that supports climate projects in developing countries. If the U.S. does not release this money, it would follow a trend of less support for global climate efforts, which started during former President Donald Trump’s time in office. Earlier this year, the U.S. also left a United Nations fund that helps countries affected by climate disasters.
The U.S. Treasury and CIF did not immediately respond when asked for comments.
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