Addis Ababa, 13 May 2024 - the United Nations Economic Commission for Africa (ECA) successfully convened its 2nd Partners Meeting in Addis Ababa, Ethiopia. The event brought together over 45 global partners to discuss the implementation of ECA’s multi-year integrated programs aimed at fostering robust partnerships and mobilizing essential resources.
The meeting addressed significant challenges highlighted at the 56th Conference of African Ministers of Finance, Economy and Development Planning and the 10th Africa Regional Forum for Sustainable Development.
ECA’s Executive Secretary, Claver Gatete, expressed gratitude to the partners for their ongoing support and collaboration, which has been vital for ECA’s successes. He emphasized the urgent need for more partnerships to effectively respond to the needs of African member states, highlighting issues such as climate and economic shocks, high public debt, persistent inflation, and limited fiscal space impacting development and climate action efforts.
Mr. Gatete also outlined ECA’s strategic focus on developing regional value chains, particularly in agro-processing and minerals, aiming to transform the African continent into a significant investment destination. This initiative supports the broader goals of the African Continental Free Trade Area (AfCFTA) by “shifting from potential to actualized economic powerhouses.”
ECA discussed collaborations with key financial institutions like the World Bank and the IMF to explore funding mechanisms for regional banks that could bridge financial gaps. These partnerships are expected to catalyze investments worth trillions, de-risking investment ventures, and generating innovative solutions across the continent.
The Commission also highlighted its seven integrated programs structured around four strategic pillars: Domestic Resource Mobilization and Financing for Development; Sustainable Industrialization and Economic Diversification through Regional Integration; Infrastructure Connectivity, Technology, and Innovation; and Climate Resilience, alongside Green/Blue Economy and Food Security.
These programs are integral to ECA's Medium-Term Business Plan, which targets achieving tangible, practical, and scalable outcomes by fostering innovative and strengthened partnerships.
The 2nd ECA Partners Meeting marks a significant step towards sustainable economic development in Africa, highlighting the continent's commitment to leveraging collective expertise and resources for a resilient future.
ECA Partners on their part, commended ECA for coming up with integrated Programmes to strengthen the support to African member States and noted that it would be beneficial to have deep dives at technical level on each of the programmes of joint interest with the respective partner (s).
Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: eca-info@un.org