Shettima heads to Kenya for IDA21 summit on African development

“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, including building human capital, creating jobs,
enhancing energy and digital access, building climate resilience, and promoting
sustainable growth.

“While thanking donors for contributing 23.5 billion dollars
to the current IDA20 cycle, the communique 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.”

The senior special assistant said Shettima will also be
advocating for a partnership to strengthen Nigeria’s economic transformation
plan.

“This is considering the country’s young population
requiring substantial investments in sectors like job creation, energy access,
and human capital development,” he added.

“The Nairobi summit follows previous IDA gatherings in
Abidjan in 2022 and Dakar last year where African leaders united to call for an
ambitious IDA20 replenishment from donors.”