The AIP has joined the Paris Pact for People and the Planet (4P) hosted by French President Emmanuel Macron and global leaders, including the AIP High-Level Panel Founding Co-Chair, H.E. Macky Sall as Special Envoy.
Forged by Heads of States and global leaders, at the Summit for a New Global Financing Pact in June 2023, the 4P established four main principles for an international financing system to support the most vulnerable countries in addressing crises and climate transition challenges.
- No country should have to choose between its development and the preservation of the planet.
- Every country is free to adopt its own transition strategy to achieve the objectives of the Paris Agreement.
- A significant increase in public financing is necessary to fight poverty while protecting the planet.
- Private financing must be redirected and mobilized on a massive scale to support these objectives.
Reform of the global financial architecture to increase water investments is one of the key issues recommended by the AU’s AIP International High-Level Panel in the landmark report, Africa’s Rising Investment Tide, released at the UN 2023 Water Conference.
On the basis of this political consensus, a community of States came together with the aim of carrying out an ambitious reform of the international financial architecture in order to quickly raise the financing needed to effectively fight against climate change and poverty.
The AIP is now one of the 10+ 4P operational coalitions focused on transforming water finance and investment and raising ambition to globally scale up the the Continental Africa Water Investment Programme.
Photo courtesy of 4P (image source here).