Mohammed bin Salman to lead Saudi delegation at Summit for New Global Financial Pact
Paris, The Gulf Observer: Saudi Crown Prince Mohammed bin Salman will lead the Kingdom’s delegation at this week’s Summit for a New Global Financial Pact in Paris.
The event will bring together more than 300 officials including heads of state, directors and representatives of international organizations and NGOs, private sector partners, philanthropists, climate experts, and members of civil society.
Organizers say the summit will discuss global challenges, including financing the climate and ecological transition, mobilizing funds for development and rebuilding trust between the global north and south.
The event will also aim to find a consensus to propose a more inclusive international financial system to tackle global problems such as rising public debt, record inflation, increasing poverty and social inequalities.
Organizers said participants will discuss institutional reforms on taxation, debt restructuring for poor countries, and an international carbon emissions tax, particularly in the maritime transport sector and on global financial transactions.
The summit, on Thursday and Friday, was announced last year by French President Emmanuel Macron and Mia Mottley, Prime Minister of Barbados.
Macron said: “We must jointly agree on the best way to address these challenges in poor and emerging countries of the developing world, on the amount of investments, and on the reform of all infrastructures such as the World Bank, the International Monetary Fund, public and private funds.
Mottley said: “We must together build a more responsive, fair, and inclusive international financial system to combat inequalities, finance the climate transition, and bring us closer to achieving sustainable development goals.
