Ethiopian Prime Minister Abiy Ahmed drew attention to African countries' unprecedented funding constraints, with public and private debt reaching alarming levels, commodity inflation skyrocketing, and daily meals becoming a major concern for many Africans. Leaders from the Global South who attended the summit expressed their countries' predicaments and expectations. However, she highlighted the significance of the summit, which shed light on the magnitude of the crises, the clear demands from developing nations, and the proposed courses of action advocated by developed nations. Goswami acknowledged that the summit's duration of just a day and a half was not sufficient to solve the complex problems faced by the Global South. We need answers, and we need them fast." Avantika Goswami, the climate change program manager at CSE, attended the summit in person and shared her insights. We can no longer talk about small changes or short-changing the poor. Narain emphasized the urgency of the situation, stating, "Today, the most vulnerable countries, which also need funding for climate mitigation, have a crushingly high debt burden. ![]() According to Sunita Narain, director general of the Centre for Science and Environment (CSE), the summit failed to generate groundbreaking solutions but managed to ignite momentum in addressing the climate and development financing crisis. This summit, spearheaded by President Emmanuel Macron of France, brought together leaders from both developing and European nations to address the pressing issues faced by poor and vulnerable countries dealing with a combination of interconnected crises. The Summit for a New Global Financing Pact, held in Paris, France, concluded without producing transformative solutions, but it did succeed in kickstarting an important conversation about the financial crises related to climate change and development.
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