The inaugural Economic Development Assembly, organized by Global Citizen and Bridgewater Associates, will take place on October 9, 2024, in Abidjan, Côte d’Ivoire. This landmark event aims to mobilize financial support for Africa’s development, particularly focusing on the replenishment of the World Bank’s International Development Association (IDA21).
The assembly will convene global leaders, including heads of state, finance ministers, private sector executives, multilateral development banks, and civil society organizations, to discuss strategies for overcoming barriers to sustainable and equitable growth in Africa. The goal is to secure substantial financial commitments from G20 countries to support IDA’s target of raising over $120 billion for its initiatives in low-income countries.
Hosted by Côte d’Ivoire and Harith General Partners, the assembly will be held at the Hotel Sofitel in Abidjan and is supported by Global Citizen’s global partner, Citi. The IDA, known for its role in poverty alleviation through grants and loans, aims to address critical issues such as energy access, malnutrition, and domestic resource mobilization.
Africa faces significant economic challenges, including the lack of access to electricity for over 600 million people, which impacts essential sectors like healthcare, education, and food security. The IDA’s objective is to lift 250 million people out of energy poverty by 2030 and tackle malnutrition for over 40 million women and children annually. The assembly will advocate for increased funding to meet these ambitious targets and address the continent’s development needs.
Discussions at the assembly will cover key topics such as leveraging Africa’s creative economy, enhancing private investment to complement IDA’s efforts, the future of ethical investing, and addressing Africa’s debt to accelerate development. The assembly will be co-chaired by Bridgewater’s CEO, Nir Dea, and Harith Partners’ founder, Tshepo Mahloele.