By Arkangel Tembo, New York,USA

New York, September 22, Mana: President Dr Lazarus Chakwera has emphasized the need for financing facilities that are more robust, and inclusive to help catalyse global development in developing countries.

President Chakwera made the remarks on Sunday during the second-day plenary session of the Summit of the Future held under the theme “multilateral solutions for a better tomorrow”.

President Chakwera highlighted the need for leaders to put more effort so that by 2030 they should sustain the hope of young people and build sustainable solutions for the future generation.

“This Summit of the Future is not about us, but about the next two generations and their children. We must make this pact of the future relevant to all generations,” Chakwera stated.

He also indicated the significance of shifting from the provision of aid to the cultivation of self-sufficiency through robust private-sector engagement.

“We must nurture the entrepreneurial spirit of young people by empowering them with local industries,” said Chakwera.

President Chakwera also stated the need to reconfigure multilateral institutions to create a new architecture of global finance that reduces the debt burden of developing countries.

However, president Chakwera expressed deep concern with conflicts around the world that remain unresolved stating the need to seek peaceful resolutions to disputes, for it is evident that the current multilateral system has proven significantly inadequate in resolving conflicts.

The president also indicated that Malawi recognizes the global utility of Artificial Intelligence (AI) in terms of improving productivity and decision-making processes highlighting that the Least Developed Countries (LDCs) are facing significant challenges in coping with the unprecedented technological advancement.

President Chakwera said the global world must make deliberate efforts to improve the capacity of LDCs to reduce the digital divide.

The Summit of the Future which is currently underway in New York, USA will serve as an opportunity for leaders and various players in development to amplify ideas that will allow countries to attain the sustainable development Goals by 2030.