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African leaders want record World Bank financing to address climate change

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Ahead of a World Bank conference scheduled for later this year, African leaders on Monday called for rich countries to commit to record contributions to a low-interest World Bank facility for developing nations.

The leaders stressed that most African countries depend on the fund to sponsor development and combat climate change.

At a meeting in Japan in December, donors will promise to give money to the International Development Association (IDA), a World Bank organization that gives loans with low-interest rates and long terms.

“We call on our partners to meet us at this historic moment of solidarity and respond effectively by increasing their IDA contributions… to at least $120 billion,” Kenya’s President William Ruto told a meeting of African leaders and the World Bank to discuss IDA funding.

African economies were facing a “deepening development and debt crisis that threatens our economic stability, and urgent climate emergencies that demand immediate and collective action for our planet’s survival,” Ruto said.

He talked about the terrible floods in Kenya and the serious drought in Southern African countries like Malawi. If donors promise the least amount that African leaders have asked for, it will be a new high.

The previous high was $93 billion, which was raised in 2021. IDA loans are given out every three years, and donors usually give their money at a world meeting before the loan is given out.

The World Bank said that IDA lends money to 75 poor countries around the world at low interest rates. More than half of these countries are in Africa. Governments use the money to improve access to healthcare and energy, put money into farms, and build important things like roads.

The president of the World Bank, Ajay Banga, promised to cut down on the “burdensome” rules that guide lending to countries under the IDA. This would make the process more efficient and get money to countries that need it more quickly.

“We believe a simpler and reimagined IDA can be deployed with more focus to make a meaningful impact,” he said.

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Politics

Mozambique’s top court affirms governing party’s victory in recent election

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The highest court in Mozambique affirmed Monday that the incumbent Frelimo party won the October election, sparking widespread demonstrations from opposition parties who claim the vote was manipulated.

Fears of fresh bloodshed have been raised in the nation already shaken by weeks of fatal protests after Mozambique’s top electoral court mostly confirmed the results of the country’s contentious October elections, reinforcing the Frelimo party’s decades-long hold on power.

The final decision on the election process rests with the Constitutional Council. Mozambique, a nation of over 35 million people in Southern Africa that Frelimo has ruled since 1975, is expected to see more protests in response to its judgement.

Mozambique operates a framework of a semi-presidential representative democratic republic in a multi-party system. The president of Mozambique serves as both the head of state and the head of government.

The government exercises executive power. The administration and the Assembly of the Republic have the authority to enact laws.

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Alliance of Sahel States opposes ECOWAS disengagement schedule

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The Economic Community of West African States (ECOWAS) withdrawal timeline has been rejected by the Alliance of Sahel States (AES), which is made up of Mali, Burkina Faso, and Niger.

The AES claims that the ECOWAS is attempting to destabilise their newly formed organisation.

During a meeting last week in Abuja, Nigeria, the regional organisation announced a six-month withdrawal period to give the three nations time to change their minds after their official departure date at the end of January 2025.

However, this decision is “nothing more than yet another attempt by the French and its auxiliaries to continue planning and carrying out destabilising actions against the AES,” according to the heads of state of the AES.

“This unilateral decision is not binding on the ESA countries,” the statement continues. Before the conference, they stated that their choice to leave the organisation was “irreversible.”

According to the president of the Ecowas Commission, this will be a “transition period” that ends on “July 29, 2025” to “keep the doors of Ecowas open.”

The three nations accused the bloc of neglecting to assist them in resolving their domestic security challenges and of imposing “inhumane and irresponsible” sanctions related to the coup.

The three nations that were involved in the coup have mostly rejected ECOWAS’ attempts to undo their withdrawal. They are creating their alliance and have begun thinking about how to issue travel passports independently of ECOWAS.

It is anticipated that they will finish giving their one-year notice of departure in January.

Visa-free travel to other ECOWAS members is a significant perk of membership, and it is unclear how this would alter after the three nations exit the group.

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