No shortage of ideas but financing gap a huge problem- President Ali

Guyana’s President Dr. Irfaan Ali is on a mission to highlight the plight of developing nations that are seeking to embrace more renewable energy sources like solar energy or hydropower instead of harmful fossil fuels like oil and diesel.

As he appeared at a Clinton Global Initiative event at the sidelines of this year’s United Nations General Assembly on Tuesday, President Ali emphasised there is no shortage of ideas to solve problems but other challenges exist.

“We are not short of ideas, there is growing technology but the challenge is finance,” the President said pointedly.

He added that there are billions of dollars needed to help countries achieve their development targets in the Latin America and Caribbean region alone.

Over the past week, at meetings in Washington DC and in New York, the Guyanese Head of State has spoken extensively about the challenges of developing countries.

And he emphasised that limited funds is a big reason why countries cannot meet global goals to end poverty or use new environmentally-friendly energy sources instead of harmful fossil fuels like oil and diesel.

The Clinton Global Initiative was established in 2005 by Former US President Bill Clinton, CGI convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges.

The President also said Guyana and other countries that have long demonstrated a commitment to the environment should be better compensated for their actions.