Reforming the International Financial Architecture: Aligning Capital Flows with Development and Climate Goals

While emerging and developing economies (EMDEs) represent the highest growth potential in the global economy, they face the highest cost of capital, resulting in high borrowing costs and low investments in critical sectors of the economy. This side event explored how the international financial architecture can be reformed to correct these systemic failures and unlock long-term, low-cost capital for sustainable development and climate action.

Speakers included:

• Dr. Zhang Jianyu, Director, BRI International Green Development Coalition
• Thomas Melonio, Chief Economist, Agence Française de Développement (AFD)
• H.E. Trevor Manuel, Former Minister of Finance, South Africa
• H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Egypt
• Carla Louveira, Minister of Finance, Mozambique
• Prof. Kevin Urama, Chief Economist, African Development Bank
• Matt Robinson, Associate Managing Director – Middle East and
• Africa Sovereign Ratings, Moody’s
• Dr. Ishac Diwan, Professor of Economics, American University of Beirut; Director of Research, Finance for Development Lab, Paris School of Economics
• Claver Gatete, Executive Director, United Nations Economic Commission for Africa
• Jeffrey Sachs, President, UN Sustainable Development Solutions Network (SDSN)

Co-organizers: Sustainable Development Solutions Network (SDSN) and Belt and Road Green Development Council (BRIGC)

See also CCSI’s report, Lowering the Cost of Capital, for further insights.