Africa Development Summit (IDA-21): President Tebboune’s Plea for Development, Food Security, and Access to Healthcare and Education

BY: Dr. Hana Saada

ALGIERS- The President of the Republic reiterated Algeria’s unwavering solidarity with African countries in need, citing the allocation of one billion dollars by the Algerian government through the Algerian Agency for International Cooperation for Solidarity and Development (AACI).

From Nairobi, the capital of Kenya, President Abdelmadjid Tebboune affirmed Algeria’s constant commitment to African development, ensuring support for initiatives to bridge financing gaps, alleviate debt burdens, and stimulate investment for concrete and sustainable growth amid global economic challenges. In his address, read on his behalf by Prime Minister Nadir Larbaoui at the Africa Development Summit (IDA-21) for the replenishment of resources, President Tebboune emphasized the need to accelerate the pace of inclusive continental projects and implement the African Union Agenda 2063.

The President highlighted Algeria’s active involvement in integrating its national projects and implementing development projects in neighboring countries. He stressed Algeria’s continuous efforts to enable African countries to obtain necessary financing and encourage initiatives for economic recovery and sustainable growth. These efforts stem from Algeria’s African identity, commitment to solidarity and unity, and deep conviction in the interdependence of security and development.

President Tebboune underscored the importance of IDA-21 as a key platform to support African community priorities and aspirations in resource replenishment, emphasizing the need to consider the development needs and national priorities of African countries.

Diversifying Funding Sources

The holding of the IDA-21 Summit in Nairobi holds significant meaning for Africa, according to the President. He assured that Algeria is pursuing an ambitious and qualitative approach in the replenishment process, which contributes to raising resource ceilings while considering borrower countries’ needs. He also called for policies related to food and health security to be freed from purely economic approaches, emphasizing the importance of mobilizing resources to support efforts in all priority areas.

President Tebboune highlighted the worsening debt levels, which weaken African economies and limit their ability to invest in essential projects. He explained that many poor countries have been forced to reduce essential expenditures, including those allocated to vital sectors such as health, education, and the environment, hindering the achievement of Sustainable Development Goals by 2030. In this regard, he reaffirmed Algeria’s support for initiatives and mechanisms aimed at increasing development aid volumes and implementing effective instruments to reduce debt impact, including debt cancellation, restructuring, and suspension of debt services, particularly for the least developed countries.

He stressed the urgency of finding viable financial solutions to address these challenges, advocating for policies to promote economic growth and strengthen productive capacities of African countries, emphasizing the importance of diversifying funding sources to ensure sustainable growth. He also reaffirmed the importance of cooperation between African countries and their international partners to create an environment conducive to growth and development.

IDA Benefits for African Countries

The President emphasized the crucial role of the International Development Association (IDA) in meeting the growing financing needs of low-income African countries, highlighting its mechanisms of concessional loans and grants to alleviate debt burdens. He also recalled that IDA allocated over 70% of its commitments to African countries during its 20th resource replenishment operation.

President Tebboune stressed the need to support the most vulnerable countries in their efforts to stimulate economic growth and address challenges imposed by the current international context, including rising debt levels, interest rates, and resource scarcity. In this context, he also highlighted the importance of international community mobilization to address these complex challenges and address the root causes of conflicts and instability, including poverty, marginalization, and inequality, emphasizing that peace and security cannot be achieved without sustainable socioeconomic development.

The IDA-21 Summit for Africa’s resource replenishment was attended by Kenyan President William Ruto and Mauritanian President and current Chairperson of the African Union, Mohamed Ould El-Ghazouani. The event served as a crucial platform to discuss these socioeconomic issues and find sustainable solutions to elevate the economic potential of African countries.

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