The Summit for a New Global Financial Pact was held in Paris headed by French President Emmanuel Macron. During the summit, the importance of private investment for emerging countries was discussed. For Emmanuel Macron, there is too much liquidity in the world and it must be better used for “the progress of the planet and this double challenge: poverty and biodiversity”, according to his words.
The summit was an opportunity for world leaders to find solutions for the months ahead, such as debt relief and climate finance. Several topics were raised by developing countries under the Bridgetown initiative, an opportunity for them to talk about their concerns and obtain concrete solutions.
To boost lending, leaders decided to push multilateral development banks to take more risk with their capital. Many African heads of state attended the summit, as well as the Chinese Prime Minister and the Brazilian President.
The holding of this summit is a salutary initiative for the development of Africa and developing countries in general. Indeed, mobilizing private investment in favor of these countries is a crucial lever for development, the fight against poverty, inequality and the protection of biodiversity. An opportunity to seize for all the actors involved for not only the well-being of emerging countries, but also for the progress of the planet