Prime Minister Abiy arrives in Paris to partake in New Global Financing Pact summit

Addis Ababa, June 22, 2023 (FBC) – Prime Minister Abiy Ahmed arrived in Paris, France with his delegation and currently participating in the Summit for a New Global Financing Pact, the Office of the Prime Minister confirmed.

It is learned that the Summit for a New Global Financing Pact is an opportunity to collectively rethink the global financial architecture of international solidarity and climate action by proposing concrete solutions to create a fairer, more effective and more responsive global financial system.

France is hosting the Summit on from 22 to 23 June 2023 under the theme “Building a new consensus for a more inclusive international financial system”.

The major objectives of the Summit are said to be restoring fiscal space to countries facing short-term difficulties, especially the most indebted countries, promoting private sector development in low-income countries, encouraging investment in «green» infrastructure for the energy transition in emerging and developing countries, and mobilising innovative financing for countries vulnerable to climate change.