Vice President Kashim Shettima is set to depart from Abuja late Sunday to represent President Bola Tinubu at the International Development Association (IDA) Heads of State Summit scheduled for Monday in Nairobi, Kenya. The Presidency, through a statement signed by the Vice President’s Spokesperson, Stanley Nkwocha, revealed that VP Shettima will play a pivotal role in advocating for Nigeria’s vision of a transformative IDA21 financing package aimed at accelerating development across the continent over the 2024-2026 period.
The high-profile event, convened by Kenyan President William Ruto, will witness African leaders rallying for an ambitious replenishment of the World Bank’s International Development Association concessional lending arm. The “Nairobi IDA Communique,” a draft to be deliberated at the summit, outlines urgent priorities for IDA’s next three-year funding cycle, including bolstering human capital, job creation, energy and digital access enhancement, climate resilience, and sustainable growth promotion.
Expressing gratitude to donors for their $23.5 billion contribution to the current IDA20 cycle, the communiqué underscores the inadequacy of this financing level to meet the substantial investment needs. It calls upon IDA partners/donors to escalate efforts and ensure robust replenishment for IDA21.