PUTRAJAYA: Sustainable financing in the Asean region has been advancing quickly, with investors seeking investments that can create positive impact and help efforts in climate mitigation and adaptation sooner rather than later.
Despite all these efforts, significant financing gaps have been recorded all over the world, including right here in Malaysia. “This is highly significant in explaining why even smooth developing countries today have heavy debt burdens,” he told StarBiz in an interview yesterday. “This means money that could have gone into infrastructure or any economic need was used to pay off the interest on debts. These issues are quite striking and more needs to be done to fix them,” he said.
Xu said some of the issues to discuss based on financing through tax revenue would include how efficient or effective the taxes were and whether there was potential to raise more. Meanwhile, Xu said Malaysia is not lagging behind when it comes to development, something the nation should be proud of.
Sustainablefinance Asean Greenbonds Climateaction Financinggap Debtsustainability Sdgs Publicprivatepartnership
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