- 19 African heads of state convened at a major summit to chart a course for the continent's development future.
- The ambitious agenda prioritizes improving lives and creating new opportunities across Africa
- Currently, IDA supports 39 African nations, directing over 70% of its resources towards the continent.
In a historic display of unity, 19 African heads of state convened at a major summit to chart a course for the continent’s development future.
The ambitious agenda prioritizes improving lives and creating new opportunities across Africa, with the World Bank’s International Development Association (IDA) positioned as a critical pillar for success.
Beyond lofty pronouncements, the summit witnessed the birth of a powerful partnership – a coalition uniting civil society, foundations, the private sector, and young people. This group will champion a robust and ambitious replenishment of IDA’s resources, acting as fuel for Africa’s development engine.
Leaders’ Shared Vision
A post-summit communique outlined key areas of focus: strengthening governance, unlocking private sector potential for job creation, mobilizing domestic resources, and addressing climate change. Additionally, the leaders prioritized increased access to energy and digital technologies, while building resilience to climate change and conflict.
The Kenyan government co-hosted the summit with the World Bank Group, underscoring the critical roles of both IDA and the global community in supporting African aspirations.
Africa’s Urgent Call for Change
Dr. William Ruto, President of Kenya, emphasized the continent’s need for immediate action and its desire to capitalize on this pivotal moment. He passionately advocated for stronger donor contributions to IDA21, highlighting its role in driving transformative change across Africa and beyond.
Echoing this sentiment, World Bank Group President Ajay Banga stressed the need for unwavering global support, particularly from IDA, as Africa charts its path towards a prosperous future.
IDA’s Legacy and Future
For decades, IDA has served as a powerful engine for economic growth in Africa. It empowers progress through grants and highly concessional loans, fueling strategic investments in education, healthcare, and job-generating industries like agriculture. Recent efforts to streamline access have further enhanced its effectiveness.
Currently, IDA supports 39 African nations, directing over 70% of its resources towards the continent. This plays a vital role in achieving the World Bank Group’s goal of bringing electricity to 250 million Africans by 2030.
Challenges and Potential
The call for IDA replenishment comes amidst a multitude of interconnected hardships. However, Africa also possesses immense potential: vast natural resources, abundant sunshine, and the world’s fastest-growing youth population.
A United Front for a Brighter Future
Amplifying unified support for Africa’s bold vision and leveraging the strength of the newly formed coalition can unlock a brighter future for the continent. Leaders representing various sectors – youth, business, and civil society – stressed the need for a robust IDA21 replenishment and pledged their commitment to working in partnership.
Their voices echoed the overarching message: a stronger IDA, coupled with a united global effort, can propel Africa towards a future brimming with opportunity.
