African leaders unite to support IDA20 replenishment

President Alassane Ouattara of Cote d’Ivoire and the World Bank Group will host a high-level meeting on July 15, 2021,  with African leaders to highlight the importance of an ambitious and robust 20th replenishment of the International Development Association (IDA20).

According to a statement by International Development Association, the replenishment will support a resilient recovery from the COVID-19 crisis and help the continent continue its economic transformation.

The statement also said that “As African countries grapple with the devastating impacts of the COVID-19 pandemic, continued support from the World Bank, particularly from IDA, is critical to help them meet their financing needs, which were already high before the pandemic.” 

It noted that the high-level meeting follows the call from African leaders, during the African economies financing Summit in Paris in May, asking for increased support to build back better and greener from the crisis.

The statement explains that “discussions will help identify key priorities for financing in Africa, and champion a strong policy and financing package for an ambitious IDA20 replenishment. Africa is IDA’s biggest beneficiary with 39 countries and has made significant headway in improving development indicators in the six decades partnership with the World Bank.”

The International Development Association (IDA) is one of the largest sources of funding for fighting extreme poverty in the world’s lowest-income countries. IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world.

African Heads of State are expected to attend from the following countries: Angola, Benin, Burkina Faso, Cameroon, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Liberia, Mauritania, Madagascar, Mozambique, Niger, Nigeria, Rwanda, Senegal, Sudan, Tanzania, Togo and Uganda; Heads of Regional Institutions and development partners World Bank Group Officials.

Suzan O