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Paris Summit Takes Triple Aim at Debt, Climate, Development

A protest outside the French Embassy in Manila on Thursday, calling on participants in the Summit for a New Global Financing Pact to ease debt loads on developing countries. Image: Jam Sta Rosa / AFP

The Summit for a New Global Financing Pact, aimed at reforming the increasingly dysfunctional development financing system, kicks off in Paris on Thursday.

Its aims are huge. In the words of Catherine Colonna, the French Minister of Europe and Foreign Affairs, the goal is nothing less than to “build a new contract with the North and the South.”

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