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2023’s resolutions for a reform of development finance

2022 ended up on a consensus that the global financial architecture is no longer “fit for purpose”. In other words, the financial ecosystem created post-war to support international development - at the centre of which are the IMF and the World Bank who were joined later by other international public financial institutions - wasn’t designed to address the multiplicity of challenges the world is facing today, foremost among which climate change. Time is running, and the good news is that 2023 is set up to be a busy year with key events setting the milestones for a reform of the international financial architecture, including a Paris Summit in June. The year will close at COP 28, where we will officially take stock of current achievements.

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I4CE – Institute for Climate Economics, is a non-profit association with expertise in economics and finance. I4CE contributes to the fight against climate change by informing the public policy debate and supporting public and private decision-makers.

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