PARIS, June 6 (Xinhua) -- France is preparing to host on June 22 and June 23 the "Summit for a New Global Financing Pact," whose goal is to build a new contract between the countries of the North and the South to address climate change.

The pact was proposed by French President Emmanuel Macron in November 2022 during the G20 summit. He said the summit should be an opportunity to explore "all ways and means of increasing financial solidarity with the South."

During the G7 summit in Hiroshima, Japan, in May, Macron said that a reform of the global financial system should favor the emerging countries and should support them in the fight against climate change.

France's Minister for Europe and Foreign Affairs Catherine Colonna said earlier that the summit would aim to facilitate the access of vulnerable countries to the financing they need to address the consequences of ongoing and future crises.

According to the Ministry of Foreign Affairs, the summit participants will discuss climate change-related financing issues in six roundtable sessions. These will cover the following areas: overhauling the international financial architecture; restoring confidence; forging partnerships for strategies; innovating with instruments and financing; ensuring more reliable information and data; and creating a conducive environment for the private sector. Enditem

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