President William Ruto has announced that Kenya will host this year’s World Bank Group’s International Development Association (IDA) Summit in Nairobi.
Speaking on Tuesday March 5, 2024 while officially opening the EALA plenary sitting at parliament in Nairobi, Ruto stated that the IDA summit will take place on April 29, 2024.
“In particular, I challenge you to apply your deliberative bandwidth to the forthcoming World Bank Group’s International Development Association (IDA) Summit.
“I am delighted to announce that Kenya will be hosting this year’s Summit on 29th April 2024. East Africa will therefore have the opportunity to witness from close quarters and contribute to important deliberations with critical implications for our growth and development,” said President Ruto.
Ruto added that during the summit, African leaders will articulate a strong case for an ambitious and robust 21st Replenishment of the IDA, which is the largest source of development assistance, and donor funding for basic social services for the world’s 75 low-income countries.
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At the same time, the Head of State explained that IDA has played a key role in supporting economic transformation in Africa and throughout the Global south.
For instance, the last IDA Replenishment in 2021 raised USD 91 billion, which was disbursed to eligible beneficiary countries over a period of 3 years.
The Kenya Summit aims to highlight to donors and other development partners critical priority target areas of development and financing in Africa.
In addition, the summit in Nairobi will enable IDA to support African countries to effectively address development challenges and exploit opportunities.
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“I have invited my fellow Heads of State and Government to participate in this highly important platform. Being confident of this Assembly’s capacity to facilitate transformative interventions, I urge you to join this cause and formulate your contributions to this endeavour with urgency, imagination and ambition,” he stated.
According to President Ruto, this is not the time for Africa to continue wearing the badge of conflict, disease, and poverty when 30% of the world’s minerals are in the continent.
He urged EALA legislators to lay a strong foundation for East Africa to make a transformative contribution to Pan-African integration and the emergence of the AfCFTA as the next hub of global investment, trade and industry.
In order to achieve this, he challenged the legislators to complete the implementation of all the pillars of EAC integration urgently, and equally align the integration agenda with the broader African transformational paradigm.
