PARIS, June 22 (Reuters) - Following are highlights of what world leaders said at a summit in Paris on Thursday to boost crisis financing for poor countries, reform post-war financial systems and free up funds to tackle climate change.
ON REFORM"Even with the capital that the World Bank and the MDBs (multinational development banks) have, there is clearly potential ...to increase financing capacity," said U.S. Treasury Secretary Janet Yellen, whose country is the World Bank's biggest shareholder.
U.S. Treasury Secretary Janet Yellen delivers her speech at the U.S embassy to France, ahead of the Global Climate Finance conference, in Paris, France June 22, 2023 World leaders, heads of international organizations and activists are gathering in Paris for a two-day summit aimed at seeking better responses to tackle poverty and climate change issues by reshaping the global financial system.
ON FAILURE OF INTERNATIONAL FINANCIAL ARCHITECTURE"It is clear that the international financial architecture has failed in its mission to provide a global safety net for developing countries," said U.N. Secretary General Antonio Guterres.
Reporting by Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.
Persons:
Janet Yellen, Yellen, Lewis Joly, Emmanuel Macron, General Antonio Guterres, Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi, Christina Fincher
Organizations:
World Bank, Treasury, U.S . Treasury, U.S, Global Climate Finance, Bank, Thomson
Locations:
Paris, U.S, France