Home Headlines African leaders set to meet in Kenya to unlock economic potential

African leaders set to meet in Kenya to unlock economic potential

Economic Recovery
Economic Recovery

African leaders will gather in the Kenyan capital of Nairobi on Monday for a two-day summit aimed at building support for Africa’s economic development, organizers have said.

The summit, jointly hosted by the Kenyan government and the World Bank Group, will see leaders explore how to maximize the impact of the International Development Association (IDA) during its current replenishment process and ensure that it receives the necessary support to effectively catalyze investments at scale.

“The summit will witness the launch of a powerful coalition of partners: civil society champions and private sector leaders, including Bridgewater Associates, Global Citizen, Jacob’s Ladder Africa, ONE Campaign, and others, will join hands with African governments,” the World Bank said in the statement released on Saturday night.

The lender said the summit will identify key priorities for financing in Africa and champion an ambitious financing replenishment of IDA resources, which would support transformational development objectives for the African region.

It said the IDA will be critical in this effort, helping to advance basic needs such as energy, health care, and infrastructure, all of which are essential for development.

The World Bank noted that a united front is necessary to secure an ambitious IDA replenishment and build a brighter future.

“This broad alliance signifies a collective commitment to fully realizing Africa’s ambitions,” said the World Bank.

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