The Prime Minister of Pakistan, Mian Muhammad Shehbaz Sharif left for a two-day official visit to France at the invitation of French President Emmanuel Macron and to participate in the New Global Financing Pact Summit being held in Paris.
According to the media reports, Prime Minister Muhammad Shehbaz Sharif will participate in the New Global Financing Pact Summit being held in Paris during his visit. The Summit will prove to be an opportunity for the leaders to discuss the contours of a new global architecture capable of meeting the challenges of financing sustainable development, environment, energy transition, and climate change agenda.
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The reports further stated that PM Shehbaz Sharif will address the Summit as the leading stakeholder of G-77 and head of one of the largest developing countries most affected by climate change. He will present Pakistan’s perspective and proposals for reform of International Financial Institutions, climate finance, green infrastructure, attainment of the SDGs, and solutions related to debt.
The Prime Minister of Pakistan will also hold bilateral meetings with other world leaders on the sidelines of the Summit being held in Paris, according to the reports.
In a tweet, the Premier said, “During my visit to France, I will present Pakistan’s position on the need for restructuring of international financial institutions to fight the contemporary challenges facing humanity. As a leading stakeholder in G-77 plus China grouping and also as a country adversely hit by climate change threat, Pakistan is better positioned for this role.”
“The reform of international financial architecture has long been a key demand relentlessly made at different forums by public policy scholars, policy practitioners & world leaders especially from the Global South. The grave nature of challenges such as climate change, natural disasters, environment, rising levels of debt, and energy transitions has rung alarm bells. The globalization of the problems has necessitated the need for creative approaches to rethinking the global financial system to make it representative and equitable. This is where the New Global Financing Pact Summit in France represents a unique opportunity for the world to come together and agree to broad principles and steps needed for a comprehensive reform of the international financial system,” he added.
