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Shettima departs for the IDA Summit in Kenya

Apr 29, 2024 | International | 0 comments

Late on Sunday, Vice President Kashim Shettima embarked on a journey to Nairobi, the capital of Kenya, to attend the International Development Association Heads of State Summit scheduled for Monday.

According to a statement titled “IDA Summit: VP Shettima departs Abuja for Nairobi,” signed by his spokesperson, Stanley Nkwocha, Vice President Shettima will represent President Bola Tinubu at the summit.

The statement highlighted that the event aims to bring African leaders together to advocate for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm.

During the summit, Vice President Shettima is expected to play a leading role in championing Nigeria’s vision for a transformative IDA21 financing package aimed at accelerating development across the continent from 2024 to 2026.

Hosted by Kenyan President William Ruto, the high-level gathering will focus on urgent priorities for IDA’s next three-year funding cycle, as outlined in the draft “Nairobi IDA Communique.” These priorities include building human capital, creating jobs, enhancing energy and digital access, building climate resilience, and promoting sustainable growth.

While expressing gratitude for the $23.5bn contribution to the current IDA20 cycle, the communique emphasizes the need for more financing to meet the continent’s massive investment needs. It calls on IDA partners/donors to increase their contributions to ensure a robust replenishment for IDA21.

Vice President Shettima is expected to stress the crucial role of partners like IDA in realizing Nigeria’s economic transformation agenda, particularly in sectors such as job creation, energy access, and human capital development, given the country’s young population.

The statement concluded by noting that the Nairobi summit follows previous IDA gatherings in Abidjan in 2021 and Dakar in 2022, where African leaders united in calling for ambitious IDA20 replenishment from donors.

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