With Oman’s participation, Summit for New Global Financial Pact kicks off in Paris

Paris: Represented by the Ministry of Finance, the Sultanate of Oman is taking part in the Summit for a New Global Financial Pact, which began here today and will last for two days.

Oman’s delegation was headed by Sultan Salim Al Habsi, Minister of Finance.

The summit aims to lay the foundations for a new, more inclusive financial system in order to address the common global challenges and to combat poverty, climate change and loss of biodiversity.

The summit tackles various issues which include reforming multilateral development banks, addressing the debt crisis in developing countries, initiating financing measures to address climate change and supporting the private sector to share the responsibility of development in low-income countries.

The summit is attended by a large turnout of country leaders, heads of government, ministers, heads of international organizations, experts and specialists in financial and economic affairs from different countries of the world.

Besides exchanging knowledge and experiences, the conferees explores options for the inception of a new global financial pact.