UN Deputy Secretary-General Calls for Urgent Action at 10th Africa Regional Forum on Sustainable Development

The 10th Africa Regional Forum on Sustainable Development opened in Addis Ababa, Ethiopia today, with UN Deputy Secretary-General Amina J. Mohammed and UN Resident Coordinators from across Africa in attendance. In her remarks, Mohammed highlighted the multiple crises facing the continent, including a staggering 183% increase in debt since 2010 that has frozen Africa's economic drive, expenditure, and investment in sustainable development.

Mohammed noted that while Africa has passed the midway point in the implementation of the Sustainable Development Goals (SDGs), progress on most of the goals is off track. She underscored the urgent need for African countries to leverage their vast natural and renewable resources, such as solar energy, to transition to green economies. "At least $500 billion per year is needed to scale up affordable long-term financing for development, alongside structural reforms within the international financial architecture," Mohammed stated.

Why this matters: The challenges facing Africa in achieving the SDGs by the 2030 deadline have far-reaching implications for the continent's future. Urgent action and increased investment are critical to ensure sustainable development and improved living standards for Africa's rapidly growing population.

Robinah Nabbanja, the Prime Minister of Uganda, stressed the need for reform of the global financial architecture to ensure favorable financing terms and long-term financing for developing countries. Claver Gatete, the Executive Secretary of the Economic Commission for Africa (ECA), highlighted the potential of the African Continental Free Trade Area (AfCFTA) in boosting agribusiness and food security, calling it "a cornerstone of resilience in the face of multifaceted challenges."

The forum also emphasized the importance of domestic resource mobilization, youth-driven innovations, and investment in blue and green bonds for sustainable development in Africa. Monique Nsanzabaganwa, the Deputy Chairperson of the African Union Commission, noted that African leaders have adopted the second tier implementation of Agenda 2063, demonstrating their commitment to realizing the aspirations of Africans.

In her closing remarks, Mohammed called for a fairer global financial system and increased investment and debt relief to help Africa achieve the SDGs by the 2030 deadline. She urged the international community to support Africa's efforts to deliver its vision for development through the SDGs 2030 agenda and Agenda 2063. The 10th Africa Regional Forum on Sustainable Development, jointly organized by the United Nations Economic Commission for Africa, the African Union Commission, the African Development Bank, and the United Nations system, will continue until April 25, 2024.

Key Takeaways

• Africa's debt increased 183% since 2010, hampering sustainable development.
• Africa needs $500B/year in affordable financing to achieve SDGs by 2030.
• AfCFTA can boost agribusiness and food security, a cornerstone of resilience.
• Domestic resource mobilization, youth innovations, and green bonds are crucial.
• UN calls for fairer global finance system and debt relief to support Africa's SDGs.