African Economies: AfDB, Others, Pledge Additional Support

The African Union Commission (AUC), the African Development Bank (AfDB) and Economic Commission for Africa (ECA) have pledged to do more to support African governments to develop robust policies that will support its economic and social transformation through the optimum use the pledge was made at 2nd biennial Conference on Land Policy in Africa  with the theme: “The Africa We Want: Achieving socioeconomic transformation through inclusive and equitable access to land by the youth”, in Addis Ababa. Ethiopia.

ECA Deputy Executive Secretary, Abdalla Hamdok said the ECA remains committed to contributing to the implementation of the AU Agenda on land as demonstrated by its support through the hosting of the Land Policy Initiative (LPI), which is transitioning to the African Land Policy Center (ALPC), for eleven years.

“We commit to provide support to AU Agenda on land including hosting the ALPC and continuing to support this land policy conference,” said Mr. Hamdok, adding the main purpose of the outfit is to enable the use of land to lend impetus to the process of African development.

Mr. Hamdok said through the ALPC Africa has an opportunity to propel the continent forward through strategic reforms in land governance policies.

“Africa ought to see land as a major resource to enhance food security, peace and security and ensure environmental protection. By developing inclusive land policies, we create an opportunity for investment while simultaneously protecting the interests of the African people,” he said.

He added: “Also globalization patterns provide an opportunity as well as a challenge for the continent. With national and global investors developing growing interest on land and its resources, we must ensure that investment activities are aligned to the needs of the African people. Luckily, the Guidelines on Large scale land based investments in Africa (LSLBI) provide an opportunity for the continent to promote investments in a responsible and sustainable manner.”

myfinancialintelligence.com