[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”.