What: 9th G-CoP E-Policy Dialogue

Who: African Development Institute, the African Development Bank Group

When: Monday, 13 June 2022, 14:00-16:00 GMT

Where: Join the Event via Zoom (Click here)

Register: Click here to register for the event by 10 June 2022

The rationale:

Development financing needs in Africa are huge and widening. At the same time development finance from all sources, including foreign direct investments (FDI), remittances, overseas development assistance (ODA), portfolio investments, and domestic revenues, are declining.

Amidst the widening fiscal deficits and declining financial flows in Africa, global fiscal measures implemented globally between January 2020 and September 2021 to respond to the Covid-19 pandemic between January 2020 and September 2021 are estimated at around US$17 trillion. The equivalent to about 19% of global GDP and about 5 times Africa's GDP. Similar, amidst increasing frequencies of extreme climate events costing Africa billions of dollars in adaptation costs, the flow of climate finance remains significantly lower than the amounts needed by countries. More so, the most climate-vulnerable countries in Africa do not receive climate funds as the current climate finance architecture favors more climate-resilient countries.

This G-CoP policy dialogue will explore policy questions on the success or failure of development finance models in supporting inclusive growth and sustainable development in Africa.

It will feature an African-fireside discourse with leading experts and G-CoP stakeholders around the world on burning questions, including the following:

• Is the current global finance model fit for purpose, or should we look for another?
• What structural factors define losers and winners in the current global financial architecture? Why have some regions and countries achieved sustained decades of growth within the current system and others have not?
• What are the effects of the global financial models on the costs, risks, vulnerability, and development finance flows (domestic and external) in Africa?
• What are the roles of multilateral development finance institutions in reshaping global development finance models to make them pro-poor and more inclusive to achieve the Sustainable Development Goals?
• Could south-south alliances and partnerships provide a solution, and how could such partnerships be structured?
• What key policy actions should the African governments consider for increasing competitiveness in the current and/or emerging global order?

The dialogue will feature Prof Stefan Dercon, Director of the Centre for the Study of African Economies and Professor of Economic Policy at the University of Oxford, a former Chief Economist of the Department for International Development (DFID), United Kingdom.

Other speakers are, Mr Christopher William Chalmers, Executive Director for United Kingdom, Italy and Netherlands, African Development Bank, Mr Charles Boamah, former Senior Vice President of the African Development Bank Group, and Prof Kevin Chika Urama, the Acting Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank Group will also feature an open dialogue session with Global community of practice experts and staff of the Bank.

For the detailed concept note: Click here

Click here to register or email adigcop@afdb.org.