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Radio France Internationale

World

Amanda Morrow with RFI

Paris summit seeks pact to repair broken global financial system

Paris Emmanuel Macron Climate Change Pandemic World Bank

Campaigners call for equitable climate finance for developing nations at the Cop27 conference in Egypt on 16 November, 2022. © Amanda Morrow/RFI

French President Emmanuel Macron will host world leaders in Paris this week for a summit to overhaul a global financial system dating back 80 years so the world is better able to respond to climate change and future pandemics.

No formal decisions will be taken at Summit for a New Global Financial Pact, on 22 and 23 June, which is instead seeking to build momentum for reforming lending mechanisms so poorer nations can access urgent financing to address their most urgent needs.

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