Regional Outreach of the Intergovernmental Committee of Experts on Sustainable Development Financing: statement by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA

Abstract

This Statement delivered by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA at the Regional Outreach of the Intergovernmental Committee of Experts on Sustainable Development Financing. Mr. Lopes, on his remarks highlighted that, Scaling-up both domestic and private external financial resources is thus central to Africa’s ambitions. We need to be creative and innovative in order to ensure that first and foremost it is domestic sources of financing that underpin Africa’s structural transformation. Africa needs to rethink its financing strategy to implement its transformation agenda. Institutional building is essential for the success of Sustainable Development Financing Initiatives. In this regard, ECA has partnered with the African Union, and the African Development Bank to establish the ClimDev Special Fund (CDSF) under the Climate for Development in Africa (ClimDev-Africa) Programme.