On Thursday, President Bola Ahmed Tinubu had a meeting with Prof. Benedict Oramah, the President of AFREXIM Bank. The meeting took place during the High-Level Summit for New Global Financing Pact, as reported by Gurustab.
Previously, Tinubu had joined other global leaders in Paris, France, to discuss the consensus for restructuring the global financial architecture. The aim is to prioritize poverty reduction, debt restructuring or cancellation, and providing greater support to vulnerable countries impacted by climate change and the Covid-19 pandemic.
During the summit, French President Emmanuel Macron welcomed the participants and emphasized the need for a new financial order that would enhance funding and aid developing nations in their energy transition efforts and poverty reduction initiatives. Macron also stressed the importance of respecting each nation’s sovereignty.
The French President acknowledged that African countries have faced significant challenges on a global scale, including burdensome debt that hampers their growth and development.