A committee will be set up to monitor the results of the Summit, and will meet for the first time in September.
The international community’s responses are currently fragmented, partial and insufficient. We therefore call for a fundamental overhaul of our approach. Together, we need to build a more responsive, fairer and more inclusive international financial system to fight inequalities, finance the climate transition, and bring us closer to achieving the Sustainable Development Goals.
MIA MOTTLEY, Prime Minister of Barbados
We will take a major step, as we will start by establishing a new consensus. The fight against poverty, the decarbonization of our economy in order to achieve carbon neutrality by 2050, and the protection of biodiversity, are closely intertwined. We therefore need to agree together on the best means to address these challenges in the poor and emerging countries of the developing world, when it comes to the amount of investment, to comprehensive reform of infrastructure like the World Bank, the IMF, and public and private funds, and how to set a new process in motion.
EMMANUEL MACRON, President of the french Republic
States, international organizations and civil society representatives
private sector partners
Heads of State
and NGO coalitions
The world is confronted with the most challenging environment in decades. Following the Covid shock, public debt is at record levels in all countries - one-third of all developing countries and two-thirds of low-income countries are at high risk of debt distress. Inflation has surged and monetary tightening creates financial volatility and reduces appetite to risk taking. The multi decade trend towards global poverty reduction has been halted if not reversed, resulting in a global divergence. There is a risk that, through lack of cooperation and insufficient ambitions, the world comes short of meeting the SDG targets and the net zero objective.
Yet, 2023 can be transformed into a year of opportunity. The key is to recognize that, in a world that is one – “one Earth, one Family, one Future” –, some global challenges (climate, poverty, health) can only be confronted through stronger and more permanent cooperation. The world community needs to form a minimum base of common vision for the future. At the center of that vision is a belief in shared prosperity between global North and South; the need for concessional finance and a global responsibility to produce public goods benefiting all. While only a part of the agenda, finance is essential.
Achieving the dual goals of sustainability and poverty reduction and more generally, providing global public goods will require a significant scaling up of finance. This is especially important for poorer countries that will face upfront large investments in global public goods whose benefits will materialize over time. The urgent need is to strengthen policies and mobilize financing, from all sources in a predictable, adequate, and timely manner to address climate change, biodiversity loss, and environmental degradation including significantly increasing support for developing countries.
In the months to come, there is an opportunity to reshape the architecture of development and climate finance for a stronger and more efficient international financial system. The key decisions will have to be taken at the G20 Summit in September and the COP 28 conference. In the meantime, it may be useful to work and seek a basis for consensus. In that spirit, the Summit can be seen as a steppingstone, a focal point for discussion and identification of possible convergences. It will also provide a wide platform for non-states actors – public and private funds, the private sector and civil society – to participate in this discussion, assess key actions towards our development and climate finance objectives, and align in achieving them.
The overarching objective is to set up an architecture that will be robust enough to deliver more resources, protect them from possible economic or geopolitical shocks, and meet the strongest standards of fairness in the international community, resuming a steady longterm trend towards global poverty reduction. Such an architecture should ensure the longterm sustainability and predictability in climate and public goods finance (and avoid surges followed by abrupt retrenchments), taking into account the diversity of characteristics of different public goods and the differentiated capacities and needs of different countries.
Preparatory work has started with several groups discussing and considering options. While it is too soon to prefigure any outcome or result, the following possible avenues may be signaled
The Summit will last two days. It will include debate at the highest level between Heads of State and Government, leaders of international organizations, and representatives of civil society, foundations, funds and the private sector.
schedule may be subject to change
Registration is now closed.
If you would like to participate, a few seats are still available for the twenty-odd high-level events attended by Heads of State and Government, as well as by representatives of civil society. The event will be held at the UNESCO and OECD headquarters in Paris, both being essential stakeholders of the Summit.
To participate, simply confirm your interest and register via the contact form available here.
Please note that all sessions (except those which are closed to the public) will be streamed live.
Thursday, 22 June
Vanessa NAKATE, UNICEF Goodwill Ambassador
Sir Nicholas STERN, economist
Amar BHATTACHARYA, economist
Mohamed Bazoum, Président Niger
Mia Mottley, Prime Minister of Barbados
Antonio Guterres, UN Secretary-General
Moderation: Bruno Le Maire / Grand auditorium – Palais Brongniart
M. Abiy Ahmed, Premier Ministre d'Ethiopie
Mme Nirmala SITHARAMAN, ministre des Finances de l’Inde
Mme Janet YELLEN, secrétaire au Trésor des États-Unis d’Amérique
M. Ajay BANGA, président de la Banque mondiale
Mme Mafalda DUARTE, directrice générale du Climate Investment Funds (CIF)
Mme Melinda FRENCH GATES, Bill & Melinda Gates Foundation
Moderation: Catherine Colonna / Grand auditorium – Palais Brongniart
M. Denis SASSOU-NGUESSO, Président de la République du Congo
M. Abdel FATTAH AL-SISSI, Président de la République arabe d’Egypte
M. Cyril RAMAPHOSA, président de la République d’Afrique du Sud
M. Gustavo Petro URREGO, président de la République de Colombie
Mme Ursula VON DER LEYEN, Présidente de la Commission européenne
M. SANJAYAN, CEO Conservation International
Moderation: Nadia Calvino (vice-Prémière Ministre espagnole) / Grand auditorium – Palais Brongniart
M. Edouard NGIRENTE, premier ministre du Rwanda
M. Kaïs SAÏED, président de la République tunisienne
M. Mahamat Idriss DEBY ITNO, Président de la République du Tchad
M. Ranil WICKREMESINGHE, président de la République démocratique socialiste du Sri Lanka
Mme Kristalina GEORGIEVA, présidente du Fonds monétaire international
Dr. Akinwumi A. ADESINA, président de la Banque africaine de développement
Moderation: Bertrand Badré et Rémy Rioux / Grand auditorium – Palais Brongniart
M. Macky SALL, président de la République du Sénégal
M. Yoshimasa HAYASHI, ministre des Affaires étrangères du Japon
M. Makhtar DIOP, directeur général de la société financière internationale
M. Khadem AL REMEITHI, ADIA, fonds souverain EAU
Mme Jamila BEN BABA (PDG Laham Industrie)
M. Jay COLLINS, Vice-Président Citigroup
M. Thomas BUBERL, DG AXA Group
Moderation: Chrysoula Zacharopoulou et Mia Mottley (Première Ministre de la Barbade) / Grand auditorium – Palais Brongniart
M. Nana Addo AKUFO-ADDO, président de la République du Ghana
M. Muhammad Shehbaz SHARIF, premier ministre de la République islamique du Pakistan
M. William RUTO, président de la République du Kenya
M. Charles MICHEL, président du Conseil européen
M. Ilan GOLDFAJN, président de la Banque interaméricaine de développement (BID)
Mme Laurence TUBIANA, présidente et directrice exécutive de l’European Climate Foundation
Moderation: Sylvie Goulard et Mark Carney (GFANZ) / Grand auditorium – Palais Brongniart
M. Bola Ahmed TINUBU (Président du Nigéria)
M. David CRAIG, TNFD
M. Mark CARNEY (GFANZ)
Mme Mary SCHAPIRO, Bloomberg
Mme Sabine MAUDERER, vice-présidente de Network for Greening the Financial System
Mme Catherine MCKENNA, envoyée spéciale UN
Friday, 23 June
50 side events related to the Summit’s issues will be held at Palais Brongniart, at the OECD and at UNESCO.
22 juin de 18h à 19h au Palais Brongniart - NEF - Special Finance in Common Event: “Leveraging Public Development Banks’ Investments for the SDGs” FiCS
Evénement spécial co-organisé par l'OMS et la BEI : Innovative finance to accelerate investment in primary health care and resilient health systems: the Health Impact Investment Platform (HIIP) (sur invitation uniquement)
Alongside the official programme, some 30 affiliated events will also be organised.
22 and 23 June, conference at the Collège de France, co-hosted by Jameel Poverty Action Lab (J-PAL) and Community Jameel, with opening lecture by Esther Duflo: "Fighting poverty: from science to public policy".Link to the event
22 June, free concert organised by Global Citizen, power our planetLink to the event
Why is a summit on a New Global Financing Pact being organised?
80 years after Bretton Woods, an overhaul of the international financial system is overdue. On 22 and 23 June, President Emmanuel Macron will convene heads of state and government, representatives of financial institutions, and representatives of the private sector and civil society in Paris to lay the foundation for a new system that will meet our shared challenges: fighting inequality, climate change and protecting biodiversity.
Where will the Summit be held ?
The Summit will be held at the Palais Brongniart, at Unesco and at the OCDE, in Paris
Throughout its history, France has acted as an honest international broker and helped unlock some of the most intractable issues – from closing the HIV/AIDS funding gap to enhancing liquidity access for middle-income countries in Africa. Now, seven years after the landmark Paris Agreement, world leaders will once again gather to conceive a fairer, more sustainable future for our planet.
Which countries will participate in the Summit ?
This is an inclusive, multi-stakeholder summit. Heads of State from across the Global North and South have been invited, along with the leaders of multilateral development banks, international organisations, the private sector and international NGOs.
Attendees will be announced shortly.
What is on the agenda ?
Together we will shape a new financing ‘toolbox’ that will be rolled out through six high-level round-tables and 40 parallel events. The Summit will provide the opportunity to examine interactions between multilateral development bank reform, mobilisation of private capital, climate finance, green infrastructure and solutions related to debt.
What does the Summit aim to achieve ?
Ahead of the many international events that will mark the end of 2023 and the years to follow, the Summit for New Global Financing Pact will establish the principles for future reforms and pave the way towards a more balanced financial partnership between the North and South. It will set the stage for new agreements to relieve debt distress. It will also enable more countries to access the financing they need to invest in sustainable development, to better protect nature and cut emissions, as well as help protect populations from climate change wherever most needed.
To rebuild credibility in the international system, we need a new pact that offers a level playing field, shares the burden of climate change, and builds prosperity and security for every country. The New Global Financing Pact will help define the principles and steps needed to reform the financial system and to combat the high levels of debt that tie governments’ hands when it comes to implement ambitious climate action to reduce the climate, economic and technological gaps that threaten to divide up our world.
Feel free to send us your questions or ideas
To find out more about the issues covered by the Summit, consult the following documents (list updated regularly):