African Group: We work to stimulate sustainable development in Africa
African Group: We work to stimulate sustainable development in Africa
Between August 1 and 3, a meeting was held in the Nigerian capital, Abuja,African Group 2024, with the participation of Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and the Governor of the International Monetary Fund, as well as the Governor of the World Bank, and in the presence of ministerial delegations from African countries and representatives of international financial institutions.
The sessions of the meeting, which came under the title: “Facilitating trade among African countries: stimulating sustainable development in Africa,” addressed a number of topics related to sustainable development, such as the regional integration strategy in Africa, and the joint initiative with the African Development Bank; In order to supply 300 million Africans with electricity by 2030, there was also a session entitled: “Leveraging the Partnership with Multilateral Development Banks,” which was moderated by Dr. Simon Ehui, “Director General of the International Institute of Tropical Agriculture (IITA) and Regional Director of the Consultative Group on Agricultural Research (CGIAR).”
The group’s discussions also revolved around how to activate the African Continental Free Trade Agreement, promote digital transformation, develop sustainable infrastructure, and facilitate startups’ access to financing, in addition to discussing the twenty-first replenishment of the resources of the International Development Association (IDA), affiliated with the World Bank. There, Dr. Rania Al-Mashat stressed the importance of this international meeting. Because it deals with ways to enhance joint cooperation to confront development challenges in the African continent and achieve the “Agenda 2063”.
In his speech at the opening of the meeting, Wale Edun, the Nigerian Minister of Finance, stressed the need for African economies to be flexible and committed to achieving stable growth. To alleviate poverty across the continent. He also highlighted the urgent need to identify strategic opportunities and the importance of aligning investors’ interests. To achieve economic progress throughout the continent.
It is worth noting that the African Group was established in 1963; To strengthen the voice of African governors - the ministers of finance and economic development, and the governors of central banks - in the International Monetary Fund and the World Bank Group on issues of sustainable development in the countries of the African continent, and to address trade between African countries as an incentive for sustainable economic growth, and to prepare the annual inputs for the meetings of the Monetary Fund and the World Bank. It is a group that meets twice a year; Firstly in the host country of the Group Chairman, and secondly in the location of the annual meetings of the International Monetary Fund and the World Bank Group.
So, these regional and international efforts to enhance the continent’s role in the field of development confirm - without a doubt - Africa’s ability to lead the transition towards comprehensive and just sustainability, something thatEarth Guards believes in; So that we can build a vibrant and sustainable African future. The best way to do this is to enhance trade between African countries, and respond to the needs of the continent and the aspirations of its people, especially youth and women.
