Jointly hosted by the Kenyan government and the World Bank Group, the summit focuses on the issue of IDA replenishment and the support it needs to effectively catalyze investment in Africa.
Bringing together several African heads of state and government, the Summit aims to affirm, to IDA donors and other partners, the priority areas for financing development in Africa. In particular, it aims to call on donors to consider a significantly higher level of financing in order to respond to the challenges and support Africa’s development opportunities.
Speaking at the opening of the Summit, World Bank Group President Ajay Banga stressed that the event symbolizes the financial institution’s commitment to accelerating progress in Africa.
The IDA is committed to supporting the efforts of African countries and deploying its efforts on the ground in order to create an impact for the benefit of the African population, he affirmed, noting that its efforts are focused on facilitating access energy, the development of agriculture in Africa, the construction of infrastructure and the provision of the necessary skills.
For his part, Mauritanian President Mohamed Ould Cheikh El Ghazouani, current president of the African Union (AU), pleaded for “a strong replenishment of IDA resources,” to help Africa transform its “enormous potential” in sustainable economic and social development, driven by growth that strongly generates added value and employment opportunities.
He stressed the need to put Africa on the path to inclusive and sustainable growth, calling for an “ambitious and solid” replenishment of IDA resources to meet the challenges of the time.
The Nairobi Summit will emphasize the need to invest for a livable planet, in line with the World Bank Group’s new mission and IDA’s commitment to help its recipient countries prepare and respond to the threat posed by climate change. He will also advocate for more and better jobs.
IDA-21 will also seek to protect the poorest and most vulnerable populations through safety nets and through the acceleration of the rebuilding of human capital, the objective being to promote the emergence of societies healthy, qualified, knowledgeable and inclusive.
At the end of its work, the Summit is expected to release a final declaration supporting the strategic directions of IDA21 and advocating for a robust replenishment of IDA21 with an ambitious financing target.
The Moroccan delegation to this summit also includes Mr. Mohamed Tarik Bchir, Special Advisor to Ms. Fettah, Mr. Abdelmajid Mellouki, coordinator of relations with the World Bank Group (Treasury and External Finance Department) at the Ministry of the Economy and finance, as well as HM the King’s ambassador to Kenya, Mr. Abderrazzak Laassel.
The International Development Association (IDA) is the World Bank institution that invests in the future of people and the planet, financing projects in 75 countries. Founded in 1960, IDA aims to reduce poverty by providing grants and low- and zero-interest loans for programs that stimulate economic growth, reduce inequality and improve people’s living conditions.
Its mission is to end poverty on a livable planet, and Africa is at the center of it, with the continent benefiting from more than 70% of IDA’s commitments worldwide.
2024-10-05 00:54:15