African presidents want USD100 billion support from World Bank

[President Nana Addo Dankwa Akufo-Addo]president-nana-addo-dankwa-akufo-together with 22 other African leaders are calling on the donors of the International Development Association (IDA) of the WorldBank Group to raise an ambitious USD100 billion to support a resilient African post Covid-19 recovery and to help African countries transform their economies.

They also pledged to work on improving their capacity to absorb resources for the diligent execution of projects and programmes and to continue efforts to mobilize tax revenue, and to use transparently and efficiently the mobilized resources, while strengthening governance.

The leaders further resolved to accelerate economic recovery from the shocks of the COVID-19 pandemic, scale-up investments in human capital, and increase their job creation efforts and called for expanded access to vaccines which is critical for rapid recovery of the economy.

The African leaders made the call at the end of one-day IDA20 Replenishment Advocacy summit of Heads of States and governments of some 23

The IDA20 Replenishment Advocacy meeting aimed at mobilizing African leaders to solicit for higher funding from donors for the IDA20 cycle to support green and resilient recovery from challenges accentuated by covid-19.

Nana Addo Dankwa Akufo-Addo, while supporting the call, noted that ‘If OECD governments can borrow more than USD 18 trillion to respond to the pandemic, donors should be able to find USD 100 billion to replenish IDA20 to fund vital

He said this in a speech read on his behalf by Charles Adu Boahen, Minister of State at the Finance Ministry who led a four-member team to represent Ghana.

The President noted that the Covid-19 pandemic was an unprecedented crisis in which all must strive to protect the people and the planet adding that “for the first time in this century we realize how closely and irrevocably bound our fortunes are”.

What is this? What do they mean? The plenty money dem chop during the covid era no satisfy dem, they want recovery support or whatsoever. What a continent! I feel ashamed right now. When you are busy using the countries monies for irrelevant things nu, now you dey want what assistance.

When Donald Trump called Africa a shit hole, they were all furious. What do they need this huge amount of money for?
Our leaders are not serious when it comes to borrowing. They know they will leave the debt for the subsequent government to come and be struggling with. What a shame :persevere:

Look at them , the are all bunch of old men lacking direction. They are not shy going to beg someone far younger than them for money. We always running to and fro to the western world for helps. We can’t help ourselves.

When will an African countrygo and borrow from another African country.

Africa will be in debt with all this borrowing and before we realize we are being sold individually to settle the debts. We need to start generating more revenues from our resources, the borrowing must stop charley,I believe this money isn’t a hand out.

And when the money is given, then redirect it to their personal accounts. No developments whatsoever. The initial plan for the money becomes history.

Is a big shame. After taking the money too, u will never see the impact of it. They will spend it on slay queens. They will buy cars, mansions and pay for their buttocks upliftment.
We have the resources to develop ourselves, but this lazy crew of old men will not think about it for once.

We have too much old men in Africa. This is a situation we have to deal with. At their age, the law of diminishing return sets it. Nothing innovative can come from this old folks. They will never embrace change. Their old and primitive ways works best for them.