President Bola Tinubu in Paris, France yesterday joined world leaders for redesigning the global financial architecture to favour poverty reduction, debt restructuring or cancellation, and more consideration for vulnerable countries affected by climate change and COVID-19.

The President, who arrived at the venue of the event, Palais Brongniart, in the morning for the opening ceremony of the Summit for New Global Financing Pact, was received by the French Minister of Europe and Foreign Affairs, Catherine Colonna.

According to a statement by Tinubu’s Special Adviser on Special Duties, Communication and Strategy, Dele Alake, France President Emmanuel Macron said the summit would focus on drawing up a new financial order that would scale up finances and support developing countries for energy transition, poverty reduction, while respecting the sovereignty of each nation.

He noted that African countries had been at the receiving end of the major global challenges, with debt hangovers that hamper growth and development.