Bridgewater, Global Citizen to Hold Economic Development Assembly in Abidjan

The inaugural Economic Development Assembly: Advancing Africa’s Future is set to take place on October 9 and 10 in Abidjan, Côte d’Ivoire. Focused on mobilizing significant financial investments from G20 countries to support the World Bank’s IDA21 replenishment, the timely two-day gathering will convene Heads of State, finance ministers, private sector leaders, Multilateral Development Banks and civil society to address and dismantle development barriers across Africa, setting the continent’s trajectory for equitable and sustainable growth. The Economic Development Assembly is presented by Global Citizen and Bridgewater Associates, in partnership with the Government of Côte d’Ivoire and Harith General Partners, and supported by Global Citizen’s global partner Citi.

“The Economic Development Assembly will make a compelling investment case for the G20 – the world’s largest economies – to increase their contributions to IDA and enable its replenishment goal of $120 billion by December 2024. Topics and themes to be addressed include the opportunity presented by the continent’s creative economy, catalyzing private investment to build on IDA’s efforts in Africa, the future of ethical investing and addressing debt to accelerate development,” the organisers said in a statement.

“IDA is the world’s largest, most effective fund for fighting extreme poverty in the most vulnerable countries across the globe — many of which are in Sub-Saharan Africa. Fully funded, IDA can help improve living conditions for more than 1.5 billion people,” said Hugh Evans, Co-Founder & CEO, Global Citizen. “As a public fund, IDA needs G20 governments to massively accelerate urgent and strategic investments in its replenishment this December, so the potential of Africa’s booming young demographic can be unlocked to become an asset for the continent and the world.” 

“Africa is at a crossroads with a demographic boom on the horizon. That boom will have significant implications and opportunities for the trajectory of the continent and the globe,” said Nir Bar Dea, CEO, Bridgewater Associates. “Nearly 25 percent of the global working-age population will be located in Sub-Saharan Africa by 2050. Given the significance of this opportunity and its impact on future generations, it’s important to bring together leaders from across private, public, and civil society sectors to aim their focus at this region at this critical moment.”

“I’m honoured to be chairing the Economic Development Assembly — a timely meeting to pursue the systemic change that is vital to set up Africa’s future generations for success,” said Sophy Aiida, Cameroonian actress, presenter, philanthropist and host of the Economic Development Assembly. “The opportunity the IDA fund presents to set a positive trajectory for the continent and the world cannot be overstated. We must do everything we can to ensure its full replenishment this December.”