In a strong call to stakeholders at the opening of the tenth Africa Regional Forum on Sustainable Development in Addis Ababa, Ethiopia, Amina Mohammed, the UN Deputy Secretary-General on April 23 said that urgent action is needed to increase capital flows into developing countries, particularly in Africa to make the SDGs stimulus a reality.
Echoing the UN Deputy Secretary-General, Robinah Nabbanja, the Prime Minister of Uganda, stressed the need for reform of the global financial architecture to ensure favourable financing terms, stressing the need for long-term financing for developing countries to trigger sustainable economies. She said climate-smart agriculture, technology and innovation are the key drivers for sustainable development on the continent.
He underscored the need to leverage Africa's vast natural resources, particularly critical minerals which are essential for the global transition to green economies. He also said renewable energy stands as a backbone for sustainable development,"with untapped opportunities to drive investments and promote energy security across the continent."
"The African Continental Free Trade Area presents a unique opportunity to boost agribusiness and enhance food security, a cornerstone of resilience in the face of multifaceted challenges," said Gatete. Nsanzabaganwa also noted that domestic resource mobilization is the responsibility of governments and there is a need for a fair and inclusive global taxation regime.
Abdoulaye said that Africa should invest in blue and green bonds which require investment in infrastructure.
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