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Nigeria president joins world leaders in Paris to discuss climate finance for poor countries

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By Yusuf Tajudeen

Between June 22 and 23, 2023, Nigeria’s president, Bola Ahmed Tinubu will join world leaders in Paris, France for a Summit to review and sign a New Global Financial Pact.

Climate News Ng reports that discussions at the summit will center on how to expand access to funds for developing countries help them tackle the climate crisis and develop their economies in environmentally sustainable and socially equitable ways.

The two-day summit which will be hosted by President Emmanuel Macron of France will hold at Palais Brongniart, will have in attendance world leaders including the Prime Minister of Barbados, Mia Mottley; the European Commission president, Ursula von der Leyen; the Chinese premier, Li Qiang, and Brazil president, Lula Da Silva.

A statement released on Monday by the Special Adviser to the President Tinubu on Special Duties, Communication and Strategy, Dele Alake disclosed that the new pact would place vulnerable countries on priority list for support and investment, following the devastating impacts of climate change, energy crisis, and after effect of the Covid-19 pandemic.

The statement further explained that the Summit that will look at opportunities to restore fiscal space to countries that face difficult short-term financial challenges, especially the most indebted, mobilize innovative financing for countries vulnerable to climate change and foster development in low-income countries.

It said the summit will also encourage investment in green infrastructure for the energy transition in emerging and developing economies.

President Tinubu and the other global leaders, multilateral institutions, financial experts and economists will take a more holistic look at the recovery of economies from the impact of Covid-19 pandemic, and rising cases of poverty, with a view to providing access to finance and investment that will leverage inclusive growth.

The President who will be accompanied by members of the Presidential Policy Advisory Council and senior government officials is expected to return to Abuja on Saturday.

 

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