President invited to address Summit for New Global Financing Pact in Paris

French President, Emmanuel Macron has extended an invitation to his Sri Lanka counterpart Ranil Wickremesinghe to address a high-level panel discussion in Paris at the Global Leaders’ Summit for a New Global Financing Pact.

The event is scheduled to take place at the Palais Brongniart in Paris on June 22 and 23.

The Summit for a New Global Financing Pact is expected to shape a new financing ‘toolbox’ that will be rolled out through six high-level round-tables and 40 parallel events.

The Summit will provide the opportunity to examine interactions between multilateral development bank reform, mobilisation of private capital, climate finance, green infrastructure and solutions related to debt.

The Summit for New Global Financing Pact will establish the principles for future reforms and pave the way towards a more balanced financial partnership between the North and South.

It will set the stage for new agreements to relieve debt distress. It is also expected to enable more countries to access the financing they need to invest in sustainable development, to better protect nature and cut emissions, as well as help protect populations from climate change wherever most needed.

New Global Financing Pact will help define the principles and steps needed to reform the financial system and to combat the high levels of debt that tie governments’ hands when it comes to implement ambitious climate action to reduce the climate, economic and technological gaps that threaten to divide up the world.

This inclusive, multi-stakeholder event will bring together Heads of State and Government, leaders of international organizations, and representatives of civil society, foundations, funds and the private sector.

During his stay in France, Wickremesinghe will meet with Paris Club creditors to discuss matters pertaining to Sri Lanka’s debt crisis.

-with inputs from agencies