The
World Bank (WB) Vice-President for Development Finance [Joachim] Von
Amsberg has asked for the support of members of the African Caucus to
raise funds to replenish the International Development Association
(IDA).
In order to finance development in an intelligent fashion,
the WB needs to mobilise some US$135 thousand million in Official
Development Assistance (ODA). This amount will attract and leverage new
public and private investments.
“We have a large portfolio, a
series of projects in preparation that will drive private investment.
These are projects for which there is great demand and we are seeking to
mobilise possible resources.
There is the Ebola problem, floods
in Malawi and the earthquake in Nepal as well, which is why the response
budget for three years was already exhausted in the first year,”
explained the World Bank VP in his presentation on the topic “Funding
Options for ODA.”
The record ODA replenishment of US$52.1
thousand million aims to maximize impact on development by leveraging
public and private resources, in addition to knowledge, with solid
results and efficiency at a low cost.
The demand for regional
projects in Africa remains large, and most resources are committed to
regional infrastructure projects.”The strong replenishment of ODA and
financial innovations are crucial to fulfilling the agenda for
transformation in Africa,” he concluded.
The current Chairman of
the African Group of Finance Ministers and Central Bank Governors
affiliated with the International Monetary Fund and the World Bank is
the Angolan Minister of Finance; its first Vice-Chair is the Minister of
Finance of Benin and the second Vice-Chair is the Minister of Finance
of Benin (sic). The position of the organisation’s Secretary is held by
the Egyptian Minister of Finance. |
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