Paris Summit: African leaders push for financing reforms

At least 14 African leaders who are in Paris, France for a two-day summit are pushing for a favourable financing plan to boost development on the continent.

Feasible ways to tackle poverty, global warming and environmental conservation are the priority areas in the June 22-23 meeting.

French President Emmanuel Macron said both issues – climate change and poverty eradication – are important, and that countries “shouldn’t have to choose between reducing poverty and protecting the planet.”

The African presidents who are taking part in the summit include Bola Tinubu of Nigeria, Cyril Ramaphosa (South Africa), William Ruto (Kenya) and Kais Saied (Tunisia).

Presidents from Benin, Senegal, Gabon, Madagascar, Mauritius, Mozambique, Zambia, the Democratic Republic of Congo, Ghana, Comoros, Mauritania and Togo are also in attendance.

Financial architecture

The conference also hopes to lay the groundwork for an overhaul of the international financial architecture established by the West in the aftermath of the Second World War.

Chinese Premier Li Qiang is expected to speak on solutions for restructuring the debts of the world’s poorest countries.

Ugandan climate change campaigner Vanessa Nakate addressed delegates after President Macron launched the seminar on Thursday.

‘Empty’ promises

She asked the audience to observe a minute of silence for people affected by disasters. Nakate slammed the fossil fuel industry for “making empty promises to developing countries.”

She also accused “extremely rich” countries of increasing their wealth at the expense of climate reforms. “Please, do not tell us that we have to accept toxic air and barren fields and poisoned water so that we can have development,” Nakate said.

The participants will also revisit a pledge made by powerful nations in 2009 that $100 billion would be delivered annually to finance climate action in developing nations.