- Title: WRAP: Paris finance summit closes with $100 bln climate pledge
- Date: 23rd June 2023
- Summary: PROTESTERS HOLDING BANNERS READING (English): "END FOSSIL FINANCE" AND "MAKE POLLUTERS PAY" PROTESTERS ACTING OUT MOCK TUG OF WAR BETWEEN OIL COMPANIES AND POLITICAL LEADERS VARIOUS OF SWEDISH CLIMATE ACTIVIST GRETA THUNBERG WITH OTHER ACTIVISTS BANNER READING (English): "MAKE POLLUTERS PAY" MOCK PIPELINE WITH BLACK DUMMY STICKING OUT CLIMATE ACTIVIST IN FRONT OF MOCK PIPELINE WITH EACOP LOGO (EAST AFRICAN CRUDE OIL PIPE LINE) VARIOUS OF ACTIVISTS WEARING FACE MASKS OF WORLD LEADERS INCLUDING FRENCH PRESIDENT EMMANUEL MACRON AND U.S. PRESIDENT JOE BIDEN
- Embargoed: 7th July 2023 16:58
- Keywords: New Global Financing Pact Paris Summit climate finance fossil fuel
- Location: PARIS, FRANCE / INTERNET
- City: PARIS, FRANCE / INTERNET
- Country: France
- Topics: Climate Change,Climate Finance,Environment,Europe,General News
- Reuters ID: LVA006226123062023RP1
- Aspect Ratio: 16:9
- Story Text:Wealthy nations finalised a $100-billion climate finance pledge to developing countries and created a fund for biodiversity and the protection of forests, France's president said on Friday (June 23).
President Emmanuel Macron was speaking at a final panel of a summit in Paris where some 40 leaders, including two dozen from Africa, China's prime minister and Brazil's president had gathered to give impetus to a new global finance agenda.
United States Treasury Secretary Janet Yellen, whose country is the largest shareholder of the IMF and World Bank, said that she was "encouraged" that China was addressing the debt of developing countries.
Chinese Premier Li Qiang urged China and Europe to "rise above differences" and find "creative solutions" at the Summit for a New Global Financing Pact, in order to overcome global problems such as climate change and poverty alleviation.
During the summit, Zambia struck a deal to restructure $6.3 billion in debt owed to other governments, including China, its largest official creditor.
Zambia in 2020 became the first African country to default on its sovereign debt during the COVID-19 pandemic and struggled since then in protracted discussions to agree a deal.
Zambia is viewed as a test case for a debt restructuring framework backed by the Group of 20 wealthy nations and intended to streamline relief for countries caught in a developing world debt crisis sparked in part by the pandemic.
(Production: Paul Warren, Jacqueline Clyne) - Copyright Holder: REUTERS
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