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Shettima Leaves Nigeria, Heads To Nairobi For Summit On African Development.
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Summit advocates for substantial IDA21 replenishment to accelerate African development.
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African leaders prioritize human capital, job creation, energy access, climate resilience in IDA’s funding cycle.
EKO HOT BLOG reports that Vice President Kashim Shettima has embarked on a journey to Nairobi, the capital of Kenya, to attend the International Development Association Heads of State Summit scheduled for Monday.
In a statement entitled ‘IDA Summit: VP Shettima Departs Abuja for Nairobi’ and signed by his spokesperson, Stanley Nkwocha, it was revealed that the Vice President will be representing President Bola Tinubu at the summit.
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The statement emphasized that the event aims to bring together African leaders to advocate for a substantial replenishment of the World Bank’s International Development Association concessional lending arm.
“VP Shettima is expected to take a lead role in advocating for Nigeria’s vision of a transformative IDA21 financing package to accelerate development across the continent over the 2024-2026 period.
“The high-level gathering, hosted by Kenyan President William Ruto, will see African leaders unite to call for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm.
“In the draft “Nairobi IDA Communique” to be considered at the summit, African heads of state outline urgent priorities for IDA’s next three-year funding cycle.
“These include building human capital, creating jobs, enhancing energy and digital access, building climate resilience and promoting sustainable growth.
“While thanking donors for contributing $23.5bn to the current IDA20 cycle, the communiqué states that this level of financing is inadequate to meet the massive investment needs.
“It calls on “IDA partners/donors to step up and ensure a robust replenishment for IDA21.”
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Shettima is expected to emphasise that partners like IDA will be critical to realising Nigeria’s economic transformation agenda, with the country’s young population requiring substantial investments in sectors like job creation, energy access, and human capital development.
The statement added that the Nairobi summit follows previous IDA gatherings in Abidjan in 2021 and Dakar in 2022, where African leaders united to call for an ambitious IDA20 replenishment from donors.
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