For the next two days, France will be host to an international Summit for a New Global Financing Pact set to run Jun 22-23 at the Palais Brongniart in Paris, France.
Initiated by French President Emmanuel Macron, the Summit for a New Global Financing Pact fits into an international context marked by the cascading consequences of concurring climate, energy, health and economic crises, particularly in the most vulnerable countries.
With the theme: Building a new consensus for a more inclusive international financial system, the two next days will be useful to take things forward.
Taken together, these steps are aimed at helping to beat poverty and hunger, uplift developing and emerging economies, and support investments in health, education and climate action.
The UN Secretary-General, António Guterres, at the opening ceremony of the Summit for a New Global Financing Pact, in his remarks said:
“We don’t have to wait for root and branch reform of the international financial architecture. We can take steps right now – and take a giant leap towards global justice.
“I am fully aware of the challenges and headwinds we face. Power dynamics and constraints on global cooperation in today’s world make problems more difficult to solve. But solutions are not impossible. And we can start now.
“Your discussions can yield meaningful results for people in need. I urge you to make this meeting not just a cri du cœur for change, but a cri de guerre – a rallying cry for urgent action.
“We are at a moment of truth and reckoning. Together, we can make it a moment of hope,” he further stated.