African leaders want debt relief for climate action

Cape Verde, a volcanic archipelago off the west coast of Africa, is not in fact a cape, and only in the rainy season is it particularly green. It is vulnerable to rising sea levels, acidifying oceans and erratic weather, and this may explain why it struck a debt-for-climate deal with Portugal this year. Initially Portugal will write off €12m ($13m) of debt. The money saved will be invested in projects like renewable energy and desalination plants. If all goes well, then the entire €140m (some 6% of GDP) that Cape Verde owes its former coloniser will be forgiven on similar terms.