Africa: Powerful coalition launched to boost African development, powered by IDA

Leaders across Africa are joining civil society, foundations, the private sector and youth to form a continental alliance for bold transformation ahead of the next round of IDA funding.

On April 29 in Nairobi, Kenya, 19 African leaders and 32 finance ministers met to discuss ambitious economic reforms to accelerate the continent’s development. The summit, co-sponsored by the Kenyan government and the World Bank, comes at a crucial time for Africa: the continent is poised to take a leap forward in development.

After being hit hard by the recent polycrisis, Africa is recovering. The continent will soon have the largest workforce in the world. By 2050, one in four people will be African and the continent will be home to a third of the world’s young people. With a younger population, rapidly growing cities, abundant natural resources and a strong entrepreneurial spirit, Africa is ready to realize its potential.

This requires investment, and there is no partner that can be trusted more than the International Development Association (IDA), the world’s largest global solidarity fund for the poor. IDA has been a committed partner in Africa’s development for decades, driving progress through grants and highly concessional loans, supporting strategic investments to create a skilled, healthy workforce, and fostering job-creating industries. Of the 75 countries it supports, 39 are in Africa, and more than 70 percent of their resources flow to the continent.

Recognizing that IDA is at the center of Africa’s transformation, the summit saw the forging of a powerful coalition of leaders, youth from around the world, the private sector and civil society calling for more donor funding sooner. of the next IDA replenishment (IDA21). The coalition expressed its commitment to a strong, inclusive and sustainable recovery, in partnership with IDA: “Our people and we, Africa’s leaders, are eager for change and want to transform the continent at this time of enormous opportunity.” said Dr. William Ruto, President of Kenya. “IDA has been and must continue to be a trusted development partner for Africa, and we urge donors to make greater contributions to IDA21 so that together we can drive transformative impact not only for a better Africa, but also for a better world.” “.

IDA’s country-driven model has tangible results that have real impact. In the most recent IDA20 cycle, every dollar of donor contributions generated an impact of $3.50. As a result of IDA support, between 2012 and 2023, 1.18 billion people worldwide received essential health services, 117 million people gained access to improved water services, and 92 million people gained new or improved electricity services. .

IDA has been and must continue to be a trusted development partner for Africa, and we urge donors to make greater contributions to IDA21 so that together we can drive transformative impact, not only for a better Africa, but for a better world. . William Ruto President of Kenya

IDA21, the 21st replenishment round since 1960, will work to improve lives, with a special focus on women and youth, increasing prosperity, combating climate change and preserving biodiversity, building resilient societies, accelerating digitalization, creating jobs and building the necessary infrastructure. to support and sustain economic growth. These are priorities of particular relevance in Africa, where around 462 million people live in extreme poverty.

In a show of unity, leaders from a range of sectors at the summit joined the call for an ambitious transformation in Africa, with a particular focus on supporting the continent’s youth. Sellah Bogonko, CEO of Jacob’s Ladder, which represents a cross-section of African youth, said: “True leadership is not just about those in a position, but about each of us doing the impossible, all days, in your own way. We young people are not simply asking what you can do for us. We are available to co-create solutions together with you, our elected leaders, with the support of the AIF.

Ndidi Nwuneli, President of the ONE Campaign, said: “IDA21 must be different. It must be transformative. This means we must work collectively to ensure that IDA21 is strong, ambitious and delivered with transparency and accountability for the citizens of Africa, ensuring that we build stable and resilient economies for the future.”

After the summit, the leaders released a statement setting out their strong commitment to strengthening governance, unlocking the potential of the private sector and creating jobs, mobilizing domestic resources, meeting climate change goals, prioritizing greater access to energy and digital, and improve resilience to climate change and conflict.

World Bank President Ajay Banga reaffirmed the Bank’s support for the continent’s development and called for stronger commitments from the global donor community: “We are united by a shared vision for the future of Africa, a continent rich in diversity. , culture and potential, Thanks to its youth and its natural resources, these are the ingredients that can drive our future IDA has been a steadfast partner in Africa’s development journey, and this summit symbolizes our collective commitment to accelerate development. progress. from the World Bank Group, more from governments and more from the private sector.