Webinar | On the Road to the Paris Financing Summit | Friday 6 Jan

Event date : 6th Jan 2023

By: Mai-Linh Florentin, 

Can the June financing summit deliver on its promises?

ONLINE EVENT

Friday 6th January 2023

2:00 - 3:30 pm

(Paris Time, Zoom)

Opening statement by Ms. Chrysoula Zacharopoulou

Minister of State for Development, Francophonie and International Partnerships, attached to the Minister for Europe and Foreign Affairs

Source: Wikimedia Commons
CC BY-SA 2.0 <https://creativecommons.org/licenses/by-sa/2.0>
Source: Wikimedia Commons CC BY-SA 2.0

Introductory remarks by Ms. Amélie de Montchalin

Ambassador, Permanent Representative to the OECD

Cropped. Creator: Jonathan SARAGO, CC BY-SA 4.0,  via Wikimedia Commons
Cropped. Creator: Jonathan SARAGO, CC BY-SA 4.0, via Wikimedia Commons
Cropped. Source: Flickr. Creator: World Economic Forum. Credit: swiss-image.ch
Copyright: WORLD ECONOMIC FORUM/swiss-image.ch
Cropped. Source: Flickr. Creator: World Economic Forum. Credit: swiss-image.ch Copyright: WORLD ECONOMIC FORUM/swiss-image.ch

Tidjane Thiam

African Union

Special Envoy

Modified image. Source: CGDEV
Modified image. Source: CGDEV

Masood Ahmed

Center for Global Development

President

Cropped. Creator: DFID - UK Department for International Development
Photo: Flickr CC BY
https://www.flickr.com/photos/dfid/49418317753
Cropped. Creator: DFID - UK Department for International Development Photo: Flickr CC BY https://www.flickr.com/photos/dfid/49418317753

Vera Songwe

Liquidity & Sustainability Facility

Chair

High Level Panel on Climate Finance

Co-chair

Cropped. Source: World Bank, CC BY NC-SA 4.0
Cropped. Source: World Bank, CC BY NC-SA 4.0

Deepak Mishra

Indian Council for Research on International Economic Relations 

Director and Chief Executive

Modified image | Source: Boston University
Modified image | Source: Boston University

Marilou Jane Uy

G-24 Secretariat

Director

The G20 Leaders’  Summit in Bali and the COP 27 in Sharm-El-Sheikh delivered mixed results. Among its apparent achievements, an ambitious Just Energy Transition Partnership with Indonesia, a Loss and Damage financing facility, and a lot of hope hanging on a large increase of the balance sheets of Multilateral Development Banks.  The Bridgetown Agenda has reignited political appetites to be ambitious on climate and development finance. Yet, risks are already materializing in the short run and these new tools might be too little too late.

President Macron invited international partners to a Financing Summit due to take place in June in Paris to mobilize rapid action on the short-and medium-term challenges.

What could the objectives of such a summit be? What are the immediate short-term actions that should be taken by international institutions?

The Finance for Development Lab is hosting a series of meetings to shape the global consensus on immediate actions necessary to progress development finance. Tensions are still high on frontier economies, whilst immediate financing needs for 2023-2024 are still at risk for many developing countries. Recent debt restructuring processes are stalling and existing frameworks have not yet managed to handle complex creditor structures. Finally, there is a clear need to increase financing for adaptation and clean energy in developing countries.

This webinar marks the first session of a series of events that will be organized by the Lab in the run-up to the Paris Summit in June.

Speakers will discuss the key challenges of the short and medium term: managing debt vulnerabilities, meaningfully increasing the role of Multilateral Development Banks, mobilizing private finance for the climate transition in emerging markets and developing countries.