ISLAMABAD: Prime Minister Shehbaz Sharif met French President Emmanuel Macron on Thursday at the sidelines of the New Global Financing Pact summit, where he reiterated that support for debt-burdened countries was the “need of the hour,” a report in the state-run Associated Press of Pakistan (APP) said. 

Sharif is among 40 global leaders and representatives of international organizations who have arrived to attend the two-day summit in Paris that aims to boost crisis financing for low-income countries and free up funds to tackle climate change. The summit aims to build a consensus on initiatives that are currently struggling in bodies such as the G20, COP, IMF, and the World Bank. 

Pakistan is one of the largest developing countries that has suffered immensely due to the effects of climate change. Unusually heavy monsoon rains in June 2022 triggered flash floods that killed over 1,700, displaced over 33 million people and inundated one-third of the country at one point in time.

Meeting Macron at the sidelines of the summit, Sharif said climate change effects had already exacerbated the lives of millions of people in developing countries. “Prime Minister Shehbaz Sharif on Thursday said that supporting the debt-burdened developing countries under New Global Financing Pact was need of the hour for relief of their peoples,” APP said. 

The Pakistani prime minister thanked Macron for hosting the global summit and inviting him to it. He appreciated Macron for taking a “bold step” toward developing a system based on financial equity for the developing world. 

“During the meeting, both the leaders also discussed other matters of mutual interest and agreed to keep up contact,” APP said, adding that Macron thanked Sharif for participating in the summit. 

Sharif, who earlier met Crown Prince Mohammed bin Salman at the summit, will also hold meetings in Paris with several heads of state and deliver a speech to highlight Pakistan’s position on the need for restructuring international financial institutions.