African Leaders Call For Record World Bank Support for Climate Action

In a significant move, African leaders have called on developed nations to commit to a record $120 billion in funding for the World Bank’s International Development Association (IDA) to combat climate change and support development in poorer countries.

This appeal was made during a critical discussion between African leaders and World Bank officials on Monday.

Kenya’s President, William Ruto, speaking at the meeting, highlighted the severe challenges posed by climate change and economic instability that threaten the continent.

We call on our partners to meet us at this historic moment of solidarity and respond effectively by increasing their IDA contributions… to at least $120 billion, Ruto said.

He added that the economies of African countries are challenged with a deepening development and debt crisis that threatens their economic stability and urgent climate emergencies that demand immediate and collective action for our planet’s survival.

Furthermore, Ruto mentioned the devastating floods in Kenya and ongoing droughts in Southern Africa to illustrate the immediate need for such funding.

World Bank President Ajay Banga is also committed to improving the efficiency of IDA operations.

We believe a simpler and reimagined IDA can be deployed with more focus to make a meaningful impact, Banga said.

If the donors meet the African leaders’ funding request, it will surpass the previous $93 billion record set in 2021, marking a new level of global commitment to supporting the most vulnerable nations in their fight against climate change and economic distress.

These discussions come ahead of a pivotal funding conference in Japan this December, where donor nations will pledge their support.

The IDA, which benefits 75 developing nations globally, focuses on enhancing healthcare, energy access, and infrastructure development.

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