The Director of ECA’s Strategic Planning, Oversight and Results Division (SPORD), Said Adejumobi, cited the main achievements of ECA between April 2021 and March 2022, during the ongoing 54th session of the Conference Ministers of Finance, Planning and Economic Development (CoM 2022) in Dakar, Senegal. (see replay)
Speaking on behalf of ECA Executive Secretary, Vera Songwe, Mr. Adejumobi said that ECA is able to support “effective policymaking in Africa, formulate macroeconomic and economic diversification policies, develop innovative financing models, to support regional and cross-border issues”.
Said Adejumobi, Director of ECA’s Strategic Planning, Oversight and Results Division (SPORD).
Some of the key areas in which ECA has provided support to the African Union and Regional Economic Communities (RECs) include funding for the Covid-19 response, advocacy of the Service Suspension Initiative debt relief for African countries, advocating for the Special Drawing Rights (SDRs) of $650 billion in additional liquidity for Africa, and supporting the procurement of more than 120 million doses of vaccines against Covid through the African Vaccine Acquisition Fund (AVAT). Adejumobi also points out that ECA is in a position to follow through on all but one of the nine resolutions approved at CoM 2021. difficult”, due to the Covid-19 pandemic.
Regarding the African Continental Free Trade Area (AfCFTA), he said that the ECA is able “to help countries develop national strategies, set up the African Business Index (ABI), produce the report on the state of regional integration in Africa (ARIA) on services, trade liberalization and integration, and studies on a common space of investment and governance of the interface within the AfCFTA and Free Trade Areas in Regional Economic Communities.
The Chairman of the Bureau of Experts, Bamba Diop, recognizes and commends “the partnership and support of ECA to African countries during a difficult year of Covid”.
The annual Conference of African Ministers of Finance, Planning and Economic Development (CoM) is ECA’s largest annual event and provides an opportunity for participants to debate key issues on Africa’s development and discuss the performance of the think tank in carrying out its mandate.
By WritingEditorial Committee –