Shkendije Himaj’s Post

This week’s Spring Meetings of The World Bank Group and International Monetary Fund are an opportunity for taking decisive action to make progress on the new Bank’s mission to end extreme poverty on a livable planet. Central to achieving this goal is the Bank’s International Development Association (IDA), a source of highly concessional finance for conflict-affected Least-Developed Countries (LDCs) grappling with the impact of instability, climate and economic shocks.   In a new briefing, the International Rescue Committee calls on donors to commit to an ambitious IDA21 replenishment by pledging contributions that exceed the IDA20 amount and urges the World Bank to expand non-government partnerships to reach communities that risk being left behind in conflict-affected countries. Download the briefing⬇ https://lnkd.in/e3Bh58hd #IDA21

Scaled-up access to concessionary development financing, strengthened #climate information & early warning systems, & economic reforms are among key recommendations raised in new Africa Sustainable Development Report (ASDR). Presented by the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa, and the African Development Bank, this week, the report provides an in-depth review of African countries progress towards five sustainable #development goals and their 32 targets to meet the 2030 Agenda and the African Union 2063 Agenda. “Financing remains a challenge for Africa. It needs between $118.2 billion and $145.5 billion per year to implement the continent’s climate action commitments and Nationally Determined Contributions. This requires the development partners to scale up their support, including by strengthening the system of public development banks focusing on enhancing productive capacities, infrastructure, and human capital development...,” explained Dr. Dr. Al-Hamndou Dorsouma, Manager of the AfDB Climate Change and Green Growth Division. Access ASDR here: https://bit.ly/4fc2jem

The Africa Sustainable Development Report (ASDR) highlights crucial steps for driving sustainable growth across the continent. The need for scaled-up concessionary financing and enhanced climate information systems underscores the urgency of addressing Africa’s development and climate challenges. Dr. Dorsouma's insights on the financial requirements further emphasize the role of international cooperation and robust public development banks in bridging the funding gap. As we strive towards the 2030 and 2063 Agendas, it’s imperative to focus on building productive capacities and infrastructure to achieve long-term sustainability. #SustainableDevelopment #ClimateAction #Africa2030 #AU2063 #DevelopmentFinance

United Nations (UN) Secretary-General and Heads of Multilateral Development Banks (MDBs), including the African Development Bank, champion joint effort to better support countries in accelerating progress towards achieving the Sustainable Development Goals (#SDGs) by 2030. During a high-level dialogue, UN Secretary-General António Guterres underscored the importance of MDB reforms as part of his call to unlock greater volumes of affordable long-term resources to close the SDG financing gap. UN and MDB leaders discussed enhancing collaboration at the country level, especially in fragile and conflict-affected countries, as well as their efforts to catalyse private sector resources towards sustainable investments. More from the high-level meeting: https://bit.ly/3zqFKCz #UNGA #AfDBatUNGA #UNGA79

𝗔𝗡𝗔 𝗕𝗥𝗘𝗔𝗞 𝗡𝗘𝗪𝗦 Visit our website and read our hourly news briefs to keep up with the latest news from the continent. #Africa #financing #development #climate #multilateralism #financegap #paradigmshift #growthmodel #ODA #publicdebt #FDI

Please join our panel discussion at the @AfDB_Group Annual Meetings: "What is the role of the African Development Bank in unlocking a just and equitable transition across Africa?" on 28 May, 4pm - 5.30pm Kenya/1pm - 2.30pm UTC Sign up here to join in person or to receive a virtual link: https://bit.ly/4azrwLV This will be a moderated discussion: what reforms are needed in the AfDB Energy policy to align support for a just and equitable transition in Africa. Guiding questions: 💡 In light of the misaligned support that flows from some contributor countries, what can African stakeholders do to promote alignment with the Paris Agreement and just transition principles, particularly through the AfDB? 💡 How can the AfDB financial support better target the SDGs in Africa? 💡 What specific policies need to be reformed to allow the AfDB to better target the SDGs. How can the AfDB better integrate considerations of debt levels and debt sustainability in its support to African countries? #AFDBAM2024 #TheAfricaWeWant #StopFundingFossils Power Shift Africa Oil Change International Don't Gas Africa The Climate Reality Project Climate Action Network International Christian Aid Kenya Augustine B Njamnshi Pan African Climate Justice Alliance PACJA Strategic Youth Network for Development : SYND GHANA Action Solidaire International Fran Witt

📊 The Mo Ibrahim Foundation has just released a groundbreaking report : Financing Africa: Where is the Money? This comprehensive analysis thoroughly examines the financial requirements essential for #Africa to meet its development and climate objectives, contrasting them with the resources currently available. The findings reveal that although #resources are largely present, there is a significant gap in the established processes needed for their effective allocation to critical areas. Curious to learn more? Read the full report here 👇 #AfricaDevelopment #ClimateGoals #FinancingAfrica #MoIbrahimFoundationReport

The world’s poorest countries, especially those in Africa, are struggling to pay for investment to stave off a climate crisis they did not create. More public debt is not the answer: climate investment needs exceed the lending capacity of multilateral finance institutions, and many African countries are already in a funding squeeze. What’s needed are novel solutions—stepped-up private sector investment for climate action in poor countries. And these efforts cannot be simply country-based—they must be global. Read more in Michael Olabisi’s article in F&D magazine. https://lnkd.in/d2zrsdBN

𝐉𝐎𝐑𝐆𝐄 𝐌𝐎𝐑𝐄𝐈𝐑𝐀 𝐃𝐄 𝐒𝐈𝐋𝐕𝐀: #DevelopmentFinance The challenges in disbursing IDA funds effectively in conflict-affected countries show a broader, global issue of the implementation gap in international aid. Understanding and addressing these gaps becomes paramount as the world aims to meet the United Nations Sustainable Development Goals. The World Bank spring meetings discussions could set transformative precedents for future global aid distribution and effectiveness. Read more https://ow.ly/9cAs50RnLQs

The Development Bank of Namibia (DBN) and the World Bank are in talks to enhance cooperation, focusing on climate finance and sustainable development initiatives in Namibia. #DBN #WorldBank #Namibia #SustainableDevelopment #ClimateFinance #Partnership #Collaboration #GreenFinance #EconomicGrowth #RenewableEnergy #ClimateChange #Innovation #BCS #DevelopmentFinance #FinancialSector