in Paris, France
President Emmanuel Macron of France has called for much more investment from the private sector.
“There is a lot of cash in the world, a lot of money. We can make the system work better,” he told leaders who gathered in Paris, France today for the opening of The Summit for a New Financing Pact.
He said money was needed to deal with climate and bio diversity, as well as poverty.
“We need to mobilise more public finance. We need to better mobilise funds to make sure they reach the countries that need them most,” he said.
Macron said this meeting, which has brought together close to 50 world leaders and representatives from 100 countries, should be one that finds solutions.
The French leader said new partnerships were needed that would enable leaders and countries to move forward.
“No decision maker should have to choose between fighting poverty and saving the planet,” he said.
He noted that leaders have not yet solved the problem of poverty, and that each country has to follow a sovereign path. As such, he also said there must be respect for those who take singular paths.
Macron pointed out countries faced many risks, which were compounded by climate vulnerability, the COVID-19 pandemic and the Ukraine War, all of which, he said, added to the instability.
He noted that while the financial system was efficient in the past, that was not the case now.
The French president thanked Prime Minister Mia Amor Mottley for her support and for being decisive, while adding his appreciation to non- governmental organisations and civil society for their contributions.
He welcomed leaders of African nations, adding that the roundtable discussions scheduled during the first day of the meeting would allow leaders and participants to deal with many subjects.
The conference continues tomorrow. (CM)