Kenyan presidents and World Bank seek more funding for Africa

The World Bank leader and Kenya’s president will hold a summit in Nairobi this Monday to raise funds for the International Development Association (IDA) to boost funding for Africa’s poorest countries.

“African leaders will meet in Nairobi for a Heads of State Summit to increase support for African economic development,” said the note sent to Lusa, explaining the importance of IDA in financing the development of the continent’s poorest countries, including all Portuguese-speaking countries except Angola and Equatorial Guinea.

“IDA will be critical in these efforts, helping to improve fundamental aspects such as energy, health, and infrastructure that are essential to development,” the text notes, explaining that leaders will discuss how to maximize IDA’s impact during your refueling process.

This process occurs periodically and is characterized by the provision of funds by donors for the subsequent distribution or investment of IDA in the poorest countries and in areas that most effectively improve the socio-economic conditions of the population.

As for Portuguese-speaking countries, Cape Verde, Guinea-Bissau, Sao Tome and Principe and Mozambique are eligible for funding from this division of the World Bank, since Angola and Equatorial Guinea, being middle-income countries, do not have access to funds MAR.

“Building a bright future and securing ambitious IDA replenishment to achieve it requires a united front,” the statement added, announcing a “powerful coalition of partners,” including civil society and private sector leaders such as Bridgewater Associates. , Global Citizen, Jacobs Ladder Africa, One Campaign and others.

The day-long summit is co-hosted by Kenya and the World Bank and opened by the institutions’ presidents, William Ruto and Ajay Banga, respectively.