2023-06-24 00:15:45
The Head of State takes part in the closing of the Summit for a new Global Financial Pact
June 23, 2023
Paris – June 23, 2023-The President of the Republic, His Excellency Ali Bongo Ondimba took part today in the closing of the Summit for a New Global Financial Pact which was held at the Palais Brongniart in Paris from June 22 to 23, 2023 .
These meetings brought together Heads of State and Government, representatives of international and multinational financial institutions, experts and actors from civil society and other associations around issues relating to the reorganization of the international financial system, the fight against economic, social, climatic, environmental and biodiversity protection challenges.
The President of the French Republic HE Emmanuel Macron thus challenged his Peers to act in order to reduce poverty, preserve the planet and provide the most vulnerable countries with substantial means to deal with climate crises.
He also made a plea for public and private investments to be directed towards southern and emerging countries, so that they reconcile economic development and the fight against climate change.
In a work report read before his hosts, the President of the French Republic mentioned some progress, in particular: the 100 billion dollars promised for the climate since 2009, which today have been paid up to more than 60%. ; the principle of a climate clause in the framework of State bank loans; the IMF’s $100 billion increase in financing for poor countries; speeding up debt processing; multilateral development banks which must reform to attract private investors among others.
He called for building a new consensus to address the multifaceted challenges facing humanity. The objective is to reform the global financial system to make it more efficient and fairer.
The establishment of a mechanism for monitoring commitments was announced before the holding of a new Summit in Paris in two years to assess the results.
It should be noted that the closing ceremony of the Summit was the subject of two Sessions. The first on “solidarity investment and
the second on “Climate and Poverty”.
PP/MT
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