Context:
Recently, the UN Secretary General has said that the reform of multilateral development banks (MDBs) will be a key theme at this year’s Summit of the Future.
Relevance:
Facts for Prelims
About Summit of the Future
Nature of the Event:
- A high-level gathering aimed at bringing world leaders together to establish a new global consensus on improving the present and safeguarding the future.
Purpose:
- To mend eroded trust and demonstrate the effectiveness of international cooperation in addressing current and emerging challenges.
Participants:
- UN Member States, UN agencies, non-governmental organizations (NGOs), civil society organizations (CSOs), academic institutions, the private sector, and youth.
Theme:
- “Summit of the Future: Multilateral Solutions for a Better Tomorrow”.
Objective:
- To build upon the Sustainable Development Goal (SDG) Summit and create an action-oriented Pact for the Future, accelerating progress towards the Sustainable Development Goals.
Action-Oriented Outcome Document:
- The Pact for the Future, to be negotiated and endorsed by countries before and during the Summit in September 2024.
Key Targets:
- Reaffirm the UN Charter.
- Reinvigorate multilateralism.
- Boost implementation of existing commitments.
- Agree on solutions to new challenges.
- Restore trust.
