Over 100 chief executive officers, world leaders, and artists have signed the Abidjan Accord, calling on G20 governments to raise $120 billion for urgent investments in Africa. The accord, issued at the Economic Development Assembly, emphasizes increased contributions to the World Bank’s International Development Association (IDA) fund to help lift 77 developing nations, especially in Sub-Saharan Africa, out of poverty.
The signatories of the accord include major corporations like Intel and Cisco, prominent political leaders such as Heinz Fischer, Lawrence H. Summers, and Mary Robinson, and artists like Femi Kuti, Ariel Wayz, and Stonebwoy. They urge the wealthiest nations to work towards securing $120 billion for the IDA’s 21st funding round this December to provide better terms for the poorest countries.
Speakers at the assembly included African leaders like Côte d’Ivoire’s President Alassane Ouattara and Mauritania’s President Mohamed Ould Ghazouani, alongside World Bank President Ajay Banga. Key initiatives to support Africa’s development were unveiled, including vaccine delivery partnerships and investments in renewable energy.
The gathering, hosted by Cameroonian actress Sophy Aiida, focused on strategic investments to accelerate growth on the continent, with contributions from Global Citizen and Bridgewater Associates among others, underscoring the commitment to Africa’s future across various sectors.