Africa Urgently Needs Concessional Financing to Build Resilience Against Shocks, Experts Say

April 6, 2023 AELEX Admin 0 Comments

Addis Ababa, 27 March 2023 (ECA) – With financial, health and climate shocks threatening to reverse two decades of development progress in Africa, experts have called for urgent concessionary financing to help the continent build resilience and boost economic growth.

A mix of shocks including food and fuel impact of the Russia-Ukraine war, climate change impacts, conflict, and tighter global financial conditions have increased Africa’s development financing gap and debt vulnerability, experts concurred during a one-day virtual workshop on Catalysing Access to the IMF Resilience and Sustainability Trust (RST), organized by AfriCatalyst and the Economic Commission for Africa (ECA).

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