In lead up to Paris meeting on Thursday, open letter states that government loans and grants not enough to spur development
Private finance needs to play a significant role in supporting global development and reducing poverty by offering cheaper and more flexible loans, according to French president, Emmanuel Macron, and a group of fellow world leaders.
In a message that is likely to dismay many anti-poverty campaigners, the group of leaders said in an open letter that government loans and grants will not be enough to spur development across low- and middle-income countries ravaged by the Covid-19 pandemic, mounting debts and rocketing food and energy prices.
