BADEA is Committed to Fighting Climate Change in Africa; Ensuring African Trade Competiveness- Dr. Sidi Ould Tah
President of the Arab Bank for Economic Development in Africa (BADEA), H. E Dr. Sidi Ould Tah has expressed the Bank’s commitment to support Africa in mitigating the effects of climate change as well as ensuring Africa’s trade competitiveness.
The Bank’s President could not fathom why Africa contributes only three (3) percent of emissions yet, it is the worst affected, adding that BADEA would prioritize and support Africa’s quest to fight climate change.
H.E. Ould Tah was speaking at a news conference in Accra on Thursday (July 18, 2024) as part of Accra -Development Finance Dialogue and Commemoration of BADEA’s 50th Anniversary.
“BADEA has been collaborating with partners to fight climate change in Africa.
Africa contributes to only 3percent of emissions yet the Continent is worse affected”, Dr. Sidi Tah
He said the Bank has developed program to help African counties mitigate the effects of climate change.
Touching on trade , President of BADEA emphasized that trade competitiveness is important to Africa hence BADEA’s commitment to support Africa in that regard.
He also revealed that BADEA intends to as part of its 50th Anniversary Celebration, enhance the existing partnership and foster new collaborations between Arab and African Countries and support the continent’s trade, particularly export.
He added that the Bank which has capital of 20 billion dollars, making it the second best after Africa Development Bank seeks to support the private sector in Africa, empowering women in trade and giving technical assistance to businesses.
Rural development and support to micro small and Medium Enterprises, he added are some of the objectives of the Bank.
On her part, the Secretary General of BADEA, Dr. Fatima Farouk Elsheik noted that the Leaders Breakfast which comes off on Sunday will focus on SDG financing, aimed ultimately at job creation in Africa.
She explained further that the Leaders’s breakfast which is on the sidelines of AU Mid-Year Coordination Meeting (MYCM) will be attended by African Presidents and Head of States, government officials, development partners, Civil society organizations, the Private sector, academia and the media.
She revealed that the key deliverable of the Leaders’ Breakfast will be, leveraging financial resources between Africa and Arab regions by forging a New “Arab-Africa Financial Consortium”.
The Executive Director of Africa Prosperity Network (APN) Mr.Gabby Asare Otchere Darko emphasized that over the last 10 to 15 years, there has been a shift to China for support for African development.
According to him, that shift to China however has it’s own limitation hence the need for Africa to strengthen its relationship with the Arab financial institutions.
“What we are seeing and hopefully on Sunday the Arab African relationship already exists but this is to strengthen this relationship so that the Arab world and Africa can cooperate
What will happen on Sunday is the beginning of new chapter for cooperation between Africa and Arab world” ”, Mr. Darko stressed.
He appealed to the media to rally behind the program to make it a success.
Source:newsflashafrica.com
