A danger is emerging in the international negotiations on the New Collective Quantified Goal (NCQG) for climate financing within the UN framework: If a large proportion of climate financing continues to flow as loans, this could exacerbate the acute debt crisis in many developing and emerging countries. At the Bonn Interim Climate Conference (June 3-13), negotiators and experts, therefore, debated ways to prevent this debt trap. However, the proposals to date are difficult to scale up, are not very reliable and could lead to new distribution conflicts.