CWA ensures Africa’s post-pandemic recovery

Written by on August 30, 2021

Participants at the G20 Compact with Africa Conference, which featured heads of states in Africa and multilateral leaders, have committed to ensuring Africa’s post-pandemic recovery through private sector development and vaccine manufacturing.

The African Development Bank said this in a statement  titled ‘G20 Compact with Africa reaffirms commitment to securing Africa’s recovery from Covid-19 pandemic through private sector development and vaccine manufacturing’.

The statement said, “The Compact with Africa is a G20 initiative that promotes macroeconomic, business and financing reforms to attract more private investment in Africa, including in infrastructure.”

“The conference brought together heads of state of the 12 Compact members and institutional partners, including the African Development Bank and the International Monetary Fund. It involved strategy discussions around attracting higher inflows of foreign direct investment to Africa and the urgent imperative to develop vaccine manufacture capability on the African continent. Securing the continent’s recovery from the impacts of Covid-19 is one of the Compact’s near-term objectives.”

The Prime Minister of Italy, Mario Draghi, was quoted as saying, “We are meeting at a pivotal time in the relationship between Africa and the rest of the world.”

The President of South Africa, Cyril Ramaphosa, was quoted as saying, “Africa will not be able to recover until Africans are vaccinated.”

The participants discussed the issue of vaccine inequity, emphasising the need for closer international cooperation to address certain critical issues, such as climate change, debt levels and investment shortfalls.

Source: PUNCH

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