Shettima Departs For Kenya To Attend IDA Summit

Posted by Lawal Munirst on April 29, 2024 0

The event will see African leaders unite to call for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm.

Kashim Shettima

VP Kashim Shettima

Nigeria’s Vice President, Sen Kashim Shettima left the country on Sunday for for Nairobi, the Kenyan capital, to participate in the International Development Association Heads of State Summit taking place on Monday.

In a statement titled ‘IDA Summit: VP Shettima departs Abuja for Nairobi’ and signed by his spokesperson, Stanley Nkwocha, the vice president will represent President Bola Tinubu at the summit.

The statement said the event will see African leaders unite to call for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm.

“VP Shettima is expected to take a lead role in advocating for Nigeria’s vision of a transformative IDA21 financing package to accelerate development across the continent over the 2024-2026 period.

“The high-level gathering, hosted by Kenyan President William Ruto, will see African leaders unite to call for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm.

“In the draft “Nairobi IDA Communique” to be considered at the summit, African heads of state outline urgent priorities for IDA’s next three-year funding cycle.

“These include building human capital, creating jobs, enhancing energy and digital access, building climate resilience and promoting sustainable growth.

“While thanking donors for contributing $23.5bn to the current IDA20 cycle, the communiqué states that this level of financing is inadequate to meet the massive investment needs.

“It calls on “IDA partners/donors to step up and ensure a robust replenishment for IDA21.”

Shettima is expected to emphasise that partners like IDA will be critical to realising Nigeria’s economic transformation agenda, with the country’s young population requiring substantial investments in sectors like job creation, energy access, and human capital development.

The statement added that the Nairobi summit follows previous IDA gatherings in Abidjan in 2021 and Dakar in 2022, where African leaders united to call for an ambitious IDA20 replenishment from donors.

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