ISLAMABAD, Pakistan: Prime Minister Shahbaz Sharif on Wednesday morning left for France to participate in the New Global Financing Pact Summit being held in Paris from June 22-23, 2023.
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.
Prime Minister Muhammad Shehbaz Sharif departing from Islamabad to attend the New Global Financing Pact Summit in Paris, France. Islamabad, June 21, 2023. pic.twitter.com/MiO0P6xkLS
— Prime Minister’s Office (@PakPMO) June 21, 2023
The prime minister will address the Summit as leading stakeholder of G-77 and head of the one of the largest developing countries most affected by climate change.
Shahbaz Sharif will present Pakistan’s perspective and proposals for reform of International Financial Institutions, climate finance, green infrastructure, attainment of the Sustainable Development Goals (SDGs) and solutions related to debt.
In addition, he will also hold bilateral meetings with other world leaders on the sidelines of the Summit.
Earlier prior to leaving for Paris, Prime Minister Shahbaz Sharif wrote on Twitter “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 globalisation of the problems has necessitated the need for creative approaches to rethink 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 to the world to come together and agree to broad principles and steps needed for a comprehensive reform of the international financial system.
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.”
