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CEOs, world leaders sign accord for $120bn investment in Africa

The $120bn being sought is to serve as a replenishment for the IDA’s 21st funding round.

IDA is the World Bank’s fund for low-income countries and in September, Denmark announced an early, significantly increased financial commitment to the IDA.

Denmark’s pledge represented a 40 per cent increase compared to the previous IDA replenishment cycle.

At the Economic Development Assembly: Advancing Africa’sFuture in Abidjan, Côte d’Ivoire, signatories of the Abidjan Accord included representatives from leading companies Intel and Cisco, public sector leaders, including former President of the Republic of Austria, Heinz Fischer; former US Treasury Secretary, Lawrence Summers; former Prime Minister of Ireland, Leo Varadkar and former President of Ireland, Mary Robinson.

Other were former Prime Minister of Sweden, Stefan Lofven; artists, including Ariel Wayz, Berla Mundi, Davy-Carmel Ingabire; Falz; Femi Kuti; Gyakie; Jeune Lio; Made Kuti; Nomzamo Mbatha; Sophy Aiida and Stonebwoy.

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