African leaders are urging wealthier countries to boost their financial support for a World Bank initiative that provides low-interest loans to developing nations.
This initiative aims to address challenges related to climate change and socio-economic disparities.
During a conference, Kenyan President William Ruto highlighted the need for increased aid.
“We call on our partners to join us at this historic moment of solidarity and respond effectively by increasing their contributions to IDA… to at least $120 billion,” he said.
This appeal was made in anticipation of a donor conference scheduled for December in Japan.
The need for this support is urgent, as evidenced by severe climate impacts in countries like Kenya, where recent floods have caused significant damage and loss of life.
Somalia is dealing with political and economic difficulties, worsened by recurrent droughts and floods that damage crops and exacerbate food shortages.
Mozambique faces similar challenges from frequent cyclones that disrupt lives and hinder recovery in coastal areas.
These situations underscore the impact of environmental changes on resource availability and socio-economic stability in developing countries.
The low-interest loans from the World Bank are critical for these nations to adapt to climate change and pursue sustainable development.
African leaders, along with officials from other affected regions, are calling for substantial international action. They emphasize the importance of global solidarity in addressing these pressing global issues.
