French President Emmanuel Macron will host a summit in Paris to explore a new global financing pact for lower-income regions, aimed at increasing climate investment. The summit, which will focus on "financial solidarity", is expected to encourage green infrastructure investment and boost prosperity and stability. Multilateral development banks (MDBs) and investors are expected to play a key role in addressing the funding shortfall, with MDBs being urged to work more strategically with one another. Climate financing needs to grow to around $5tn annually to meet the Paris Agreement target of limiting global warming to 1.5 degrees Celsius.

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