New financing instruments to promote investments
Announcement in Brief
Development is a cross-cutting process that involves many dimensions. The 2030 sustainable development agenda of the United Nations considers three dimensions of development: economic, social and environmental. Regarding Africa, many countries have experience strong growth episodes over the recent years until the COVID-19 breakout (African Economic Outlook, 2020).
The growth was steady in 2018 and 2019 around 3.4% but below the African decadal of 5% average. In 2020, the Africa’s GDP shrank by 2.1% because of COVID-19 and is expected to grow by 3.4% in 2021 (African Economic Outlook, 2021). Unfortunately, social progress has not been similar, and has even been declining as inequalities have increased between and within countries. Poverty is still a challenge across the continent as well inclusiveness. AfDB reported that there have not been significant declines in extreme poverty and inequality in 2019.
The course aims at building capacities of various stakeholders in innovative financing methods. Specifically, it will sensitize on the need to find new means for financing development across the continent as well as some innovative solutions in this regard. It will also provide tools to guide decision-making vis-a-vis fiscal policy, well-designed procurement approaches and timely financing mega and long-term programmes.