Delivering an ambitious IDA replenishment for Africa’s development

Development Initiatives has signed a joint memorandum to African leaders attending the IDA for Africa Heads of State Summit in Nairobi , asking them to unlock an ambitious IDA21 replenishment to support Africa’s vital development priorities.

As the memorandum explains, “IDA funds are important to Africa for several reasons. They are demand-driven and country-led, enabling African countries to finance their development priorities and take the lead in implementing their projects. The concessional nature of IDA funding makes it a lifeline for countries facing debt vulnerabilities, particularly in a rising interest rate environment. Given that more than half of IDA recipients are either in debt distress or at high risk of distress, IDA serves as their main and most reliable source of patient capital and grant. IDA’s responsiveness to crises further sets it apart.”

The document urges heads of state and ministers of finance to:

1. Make an explicit call for an IDA21 replenishment substantial enough to put IDA on track to triple its financing basket to $279 billion by 2030.
2. Clearly outline a set of policy priorities and reforms for IDA.
3. Commit to increase citizen participation in the deployment of more transparent funds within African countries.
4. Insist that IDA becomes a more effective driver of economic transformation.
5. Urge IDA to work across borders and take advantage of the Africa continental free trade area.
6. Make a powerful and persuasive case for IDA donors to increase their commitments throughout this year’s IDA21 replenishment process, including through sharing examples of IDA’s importance and impact in respective African countries.
7. Send a strong message to the world bank and its major shareholders that food and nutrition, smallholder agriculture and food systems transformation should be at the heart of IDA21.
8. Capitalize on AU membership in the G20 to put IDA on the agenda of all G20 convenings and to champion calls for fairer governance structures within multilateral development banks that reflect Africa’s growing importance.

You can read the full memorandum at the link below.

Delivering an ambitious IDA replenishment for Africa’s development

Signatories to this memorandum

• Accountability Lab
• Africa Forward
• African Centre for Economic Transformation
• The African Climate Foundation
• BudgIT
• Development Initiatives
• Global Citizen
• The ONE Campaign
• Pandemic Action Network
• RANA
• SDG 2 Advocacy Hub – Hungry for Action
• Tax Justice Network Africa
• Twaweza