Introduced by Patrick Guillaumont and moderated by Sosso Feindouno, the parallel meeting brought together representatives from multilateral development banks (MDBs), member countries, the Secretariat of the Paris Pact for People and the Planet (4P), and the UN-OHRLLS. It is part of the follow-up to the Summit for a New Global Financial Pact and the United Nations General Assembly resolution from July 2024, which encourages the use of the Multidimensional Vulnerability Index (MVI).
The discussion focused on the evolution of rules for allocating concessional resources, the possibility of incorporating vulnerability into the performance-based allocation model of the MDBs, and the obstacles to overcome for such a reform. The exchange highlighted the value of a multidimensional and structural vulnerability index as a tool for preventive and transparent allocation, while also opening the conversation on its practical implementation modalities.
↪ The FiCS, launched in 2020 during the Paris Peace Forum, aims to strengthen the role of public development banks (PDBs) in the global financial system. This Summit promotes the collaboration of PDBs with other financial and non-financial actors to leave no one behind and to align all financial flows with the Paris Agreement, the Global Biodiversity Framework, and the Sustainable Development Goals (SDGs).
↪ The FiCS brings together 530 members worldwide, including multilateral and regional banks, and benefits from the support of international organizations and researchers to guide the role of PDBs as key actors in the SDGs and drivers of change.
