Why are we loaning money to developing countries, when we are borrowing money ourselves?
I know that is a dumb question, but if I were borrowing money to stay alive I would not be loaning that money to
someone else.
Just to make a point of order here, Doesn’t the word Loan, mean that at some time thos money will be repaid? What is the repayment schedule for these developing countries?
Well how’s 70 million to Vietnam for a hoax program to start...World Bank using our money to further the Climate cahnge/Carbon mumbo jumbo...and the First lucky one is Vietnam!
Vietnam – ‘First Climate Change Development’ Policy Operation Program
WASHINGTON, February 2, 2012 - The World Bank’s Board of Executive Directors today approved the following project:
IDA Credit: US $70 million equivalent
Terms: Maturity = 25 years Grace = 5 years
Project ID: P122667
Project Description: The objective of this program is to support the Government of Vietnam in addressing climate change issues by adopting policies and strengthening institutional capacity to promote climate resilience and lower carbon intensity development. Vietnam is one of the most vulnerable countries to the effects of climate change, in particular to floods, storms, and sea-level rise.