Organized jointly by the Kenyan government and the World Bank Group, the summit focuses on the issue of replenishing IDA resources and the support it needs to effectively catalyze investment in Africa.

Bringing together several African heads of state and government, the Summit aims to affirm to IDA donors and other partners the priority areas for development financing in Africa. In particular, it aims to call on donors to consider significantly higher levels of financing to meet Africa’s development challenges and opportunities.

Speaking at the opening of the Summit, World Bank Group President Ajay Banga emphasized that the event symbolizes the financial institution’s commitment to accelerating progress in Africa.

For his part, Mauritanian President Mohamed Ould Cheikh El Ghazouani, current Chairman of the African Union (AU), called for “a strong replenishment of IDA resources,” to help Africa transform its “enormous potential” into sustainable economic and social development, driven by growth that strongly generates added value and employment opportunities.