President William Ruto has asked the World Bank and the International Monetary Fund(IMF) to review their plans to match the aspirations of Africa.
Ruto says the two institutions have the power to transform the continent.
He noted that a significant measure of Africanisation of projects by the two institutions will help in realizing the goal and plans of transforming the continent.
“It is time for both climate financing mechanisms and multilateral development financing to imagine Africa as a legitimate stakeholder,” he said.
The President spoke when he made his maiden address at the 36th Ordinary Session of the Assembly of Heads of State and Government of the African Union on Saturday in Ethiopia.
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According to Ruto, development interests of Africa should be accorded ample financial support to tame the cycle of inequality and exploitation.
“We must arm Africa with the requisite tools to build resilience and cushion the continent from adverse impacts such as conflicts.”
He regretted that African continues to bear the brunt of negative impacts of carbon emission from industrialized nations despite it being the least contributor to climate change.
“The continent must lead the way in choosing green growth as the critical pathway to a sustainable future”.
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