Vice President Yemi Osinbajo, SAN, on Tuesday met the United States Special Presidential Envoy for Climate, John Kerry, at the Presidential Villa, Abuja, IgbereTV reports
Kerry who was Secretary of State under the Obama administration, is visiting Nigeria barely two weeks after VP Osinbajo’s returned from his work visit to the United States.
While details of their meeting remains unknown, it is believed to be a follow-up on the Vice President’s proposal for a Debt-For-Climate Swap deal.
During his last visit to the US, VP Osinbajo proposed a Debt-For-Climate Swap deal to achieve a just and equitable energy transition for Africa.
Explaining the DFC concept yesterday during a lecture on a just and equitable energy transition for Africa at the Center for Global Development in Washington D.C, Prof Osinbajo stated that “debt for climate swaps is a type of debt swap where bilateral or multilateral debt is forgiven by creditors in exchange for a commitment by the debtor to use the outstanding debt service payments for national climate action programs
