Agencies to support Africa's industrial transformation
The partners agreed to undertake and implement joint programmes, especially in the mobilisation of adequate resources
The agencies want the continent to advance sustainable industrialisation
The African Development Bank (AfDB) has joined partners from the African Union Commission, African governments and key United Nations agencies to renew support for African countries' industrialisation.
The partners agreed to undertake and implement joint programmes, especially in the mobilisation of adequate resources to enable the full implementation of the Third Industrial Development Decade for Africa (IDDA III).
The commitments were made at a high-level event on the "Third Industrial Development Decade for Africa (2016-2025): From political commitment to actions on the ground" held on the sidelines of the United Nations General Assembly in New York.
In 2016, the AfDB together with the United Nations Industrial Development Organisation (UNIDO) and the UN Economic Commission for Africa (ECA), developed, an ambitious Industrialise Africa strategy aimed at more than doubling the continent's industrial GDP.
"We believe it is about time for Africa's industrialisation. Let me restate that the "‘Africa rising' story is still alive and well," said Amadou Hott, AfDB's vice-president for power, energy, climate and green growth.
The partners in this new deal include AfDB, African governments, the African Union Commission (AUC), the United Nations, UNIDO, private sector organisations and development finance institutions.
In 2016, the United Nations General Assembly unanimously adopted a resolution proclaiming the period 2016-2025 as the IDDA III period. This lead to a call by the General Assembly on AU Commission, NEPAD, ECA and UNIDO to develop, operationalise and lead the implementation of the programme, in accordance with its mandate.
The UN General Assembly then highlighted the need for the continent to take urgent action to advance sustainable industrialisation as a key element of furthering economic diversification and value addition, creating jobs and reducing poverty. This would in turn contribute to the implementation of the 2030 Agenda for Sustainable Development."