YEWGlobal
23 Jul 2024
REPORT: Africa-EU Strategic Dialogue
Last week, YEWGlobal in collaboration with ICOYACA, One Hour For Europe, Y-IDEA, and the Civil Society and Youth Engagement Mechanism participated in the Africa-EU Strategy Dialogue by the Africa-Europe Foundation and organized by the European Commission in Brussels to discuss on intergenerational leadership, the EU’s approach to fighting illicit financial flows in Africa, and the future for Africa-EU.
A report has been prepared to share what transpired during the one and half day event.
“Sustainable finance” represents a priority area of joint commitment resulting from the 6th Summit of African and European Heads of State in February 2022, with financial commitments made in revising debt frameworks, reallocating Special Drawing Rights (SDRs), and investing sustainable investment projects thus a key area for a reinforced partnership between Africa and Europe. Africa needs to invest between $130 to $170 billion annually to bridge its infrastructure gap and sustainably achieve a growth rate of 5% or higher. However, these requirements can’t be met due to low external finance prompting the exploration of new approaches and sources of sustainable finance in the continent by taking into consideration both external and domestic resource mobilization and through the development of diversified financial strategies with the cooperation of the European Union.
Click here to read more: Africa-EU Strategic Dialogue Report