…By Dorcas Funmi for TDPel Media. President Bola Ahmed Tinubu recently convened a strategic meeting with stakeholders in preparation for the upcoming New Global Financial Pact Summit in Paris, France.
The purpose of the meeting was to discuss the potential benefits that Nigeria can derive from this two-day global event.
The summit, scheduled for June 22nd and 23rd, will see President Tinubu and other world leaders coming together to review and sign a New Global Financial Pact.
This pact aims to prioritize support and investment for vulnerable countries, particularly in light of the severe impacts of climate change, the energy crisis, and the lingering effects of the COVID-19 pandemic.
Objectives of the Summit
As stated in a presidential statement, President Tinubu will actively participate in the two-day Summit, which will focus on several key objectives.
Firstly, the summit aims to explore opportunities for restoring fiscal space to countries facing immediate financial challenges, especially those burdened with high levels of debt.
Additionally, it seeks to mobilize innovative financing mechanisms for nations vulnerable to climate change and promote development in low-income countries.
Furthermore, the summit will emphasize the importance of investment in “green” infrastructure to facilitate the energy transition in emerging and developing economies.
Holistic Recovery Approach and Inclusive Growth
The presidency’s statement further emphasizes that President Tinubu, along with other global leaders, multilateral institutions, financial experts, and economists, will take a comprehensive view of the economic recovery from the COVID-19 pandemic and the rising rates of poverty.
The objective is to provide access to finance and investment that can effectively drive inclusive growth.
This holistic approach recognizes the interconnectedness of various challenges faced by economies worldwide and aims to develop strategies to address them.
Anticipation for the Finance Summit in Paris
With the New Global Financial Pact Summit just around the corner, all necessary arrangements have been made for the event scheduled for June 22nd and 23rd in Paris, France.
The meeting led by President Bola Ahmed Tinubu focused on outlining the potential benefits that Nigeria can expect from participating in this significant global gathering.
As preparations are finalized, the world eagerly awaits the outcomes and actions that will result from the summit.
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