President William Ruto has led African heads of State and government in calling for increased concessional funding from the World Bank's International Development Association (IDA).
President William Ruto has led Africa n heads of State and government in calling for increased concessional funding from the World Bank's International Development Association .President Ruto called for tripling of IDA's financing capacity to $279 billion by 2030, while maintaining the essential concessional nature of its financing in accordance with the recommendations of the G20 Independent Expert Group.
In attendance were Presidents Yoweri Kaguta Museveni , Samia Suluhu , Evariste Ndayishimiye , Nana Addo Dankwa Akufo-Addo , Lazarus Chakwera , Julius Maada Bio , Azali Assoumani , Mohamed Ould Ghazouani , Faustin-Archange Touadéra , Andry Rajoelina and Hassan Sheikh Mohamud . President Ruto said access to affordable, long-term capital at scale will help unlock Africa's green energy resources, providing power to all its citizens, including the 600 million currently without access, and significantly advance global decarbonization efforts.
President Ruto urged African Heads of States and Governments to play their part by taking deliberate and robust actions to improve fiscal discipline, increase domestic revenue mobilisation, develop investor-friendly policies and enhance anti-corruption measures. Prime Minister Abiy said that increasing IDA's financial capacity will significantly enhance Africa's ability to address its complex challenges.
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