multilateral development banks (MDBs)

African Group Inputs for Financing for Development (FfD4) | Global Financing Framework

The African Group reaffirms the centrality of the Addis Ababa Action Agenda (AAAA) as a guiding framework for financing sustainable development. However, the existing international financial architecture does not meet the financial needs of African countries, particularly in times of crises. To achieve the Sustainable Development Goals (SDGs), the global financing system must address systemic challenges such as high debt burdens, trade barriers and financial market volatility.

African Climate Summit 2023 Commitment

African Climate Summit 2023 Commitment

An overview of agreed commitments and announcements from the Africa Climate Summit, On 4-6 September 2023, the Government of Kenya and the African Union convened the inaugural Africa Climate Summit in Nairobi. Commitments were made by governments, the private sector, multilateral, banks, philanthropists, and other organizations, that set out concrete, systematic, and sustainable plans to make the step change that is needed to progress towards Net Zero and international climate goals on finance and adaptation.

Reviving Financial Systems After Crisis | COVID-19 Pandemic | Climate Change

Reviving Financial Systems After Crisis | COVID-19 Pandemic | Climate Change

The world is facing unprecedented challenges. The COVID-19 pandemic, conflicts, food and energy insecurity, and the triple crisis of climate change, pollution, and biodiversity loss have derailed progress on the SDGs. Crippling sovereign debt has further deepened the divide between developing and developed countries, putting inclusive and sustainable development at risk.