President Bola Tinubu has arrived France, to participate in the Paris Summit for the New Global Financial Pact.
President Tinubu, leading the Nigerian delegations, were warmly received by top officials of the government of France.
The president left Nigeria to attend the summit on Tuesday, June 20, 2023, joining 50 global leaders, representatives of world organisations in attending the summit, which spans two days – from June 22 to 23.
The summit which is an initiative of the French government is focused on establishing a new contract between the countries of the North and the South to address climate change and global crisis.
It also propose solutions to finance issues that go beyond the climate and environmental challenges, access to health and the fight against poverty, especially for developing countries whose economic development index has drastically droppes as a result of the effect of Covid-19 pandemic, the war in Ukraine and their successive consequences.
These issues have affected fiscal and budgetary space of many countries and their ability to finance their populations’ access to basic social services.
New Global Financial Pact presents a global opportunity for countries to address key issues bothering on reform of multilateral development banks, debt crisis, innovative financing and international taxes, special drawing rights (SDRs)
It was in November 2022, during the G20 Summit, at the end of a COP27, Emmanuel Macron announced the organization of an international conference in Paris in June 2023, aimed at taking stock “on all the means and ways of increasing financial solidarity with the South”.
With an emphasis on international cooperation and solidarity, the agreement aims to pave the way for sustainable development and equitable recovery in countries across the globe.
The event offers the government of Nigeria a golden opportunity to put forward critical interest of national development to global partners, attract investment, enhance bilateral relationships and economic partnerships.
Apart from 50 heads of state and representatives from international institutions who will be attending the summit, civil society and other international bodies will be participating.
