Zambia

Zambia has reached an agreement to restructure its USD 6.3 bln debt with bilateral lenders, a French official reported. This agreement was announced at a summit in Paris aimed at discussing new strategies to increase climate financing. The meeting, attended by world leaders, including the US Treasury Secretary and the Chinese Premier, was intended to reform the global lending architecture, thus enabling institutions like the World Bank to do more to help developing nations deal with climate change.