POLICY ANALYSISDeveloping Resilience to Respond to Shocks
Climate Change and Climate Financing in Africa
Climate Change and Climate Financing in Africa
Sustainable Financing
"External sources of income and tax revenues available for development in Africa have never been higher. They have tripled in the last ten years," said the African Economic Outlook 2011 (Graph 2.1 and 2.2).
Africa's economic performance has continued to improve and medium-term projections are more promising than ever. The period 2002-2012 is characterized by the dynamism of economic growth in Africa, with a rate that continues to grow at a rate above 5%, higher than the population growth rate of +2.8%.
Sub-Saharan Africa presents the profile of one of the most flourishing developing regions. The growth rate is expected to increase to 5% in 2012, 5.3% in 2013, and 5.2% in 2014 (Chart 2.3). With a per capita income in 2010 of US$1972, the standard of living is rising faster than in any other region of the world, even if significant disparities remain between African regions and that catching up with the world average (US$9903) is far from being achieved. Over 1990-2008, poverty levels declined by 2.2 per cent, the highest since the 1980s.
However, the continent's performance is tarnished by the difficulty of reaping the full benefits of high growth, due to low diversification and lack of competitiveness that make it impossible to compete with imported products. The slow progress in democracy and the resurgence of conflicts add a negative shadow to this picture. The scourges of corruption and capital flight are still rampant and Africa seems powerless to curb them. Thus, US$700 billion evaporated between 1970-2008 blocking development efforts. The HDI figures for the period 2000-2011 place the continent at the bottom. Progress towards achieving the MDGs by 2015 remains mixed. As the 2015 deadline for reducing poverty and achieving the MDGs approaches, African countries face new and emerging trends that create new needs that FBCA must address.
Capacity Building
STUDY ON CAPACITY DEVELOPMENT SUSTAINABLE FINANCING, 2012
SUMMARY AND RECOMMENDATIONS
Objective and approach
Proposals
Recommendations
Summary of proposed options and instruments and their financial impact
Next Steps :
Immediate
Short term
Medium term
Summary of overdue payments to be recovered
1.INTRODUCTION
1.1 Rationale
1.2 Exposure method
2.CONTEXT :
2.1 A decade of growth
2.2 Capacity development needs in Africa
2.3 Role of African countries in financing the ACBF
2.4 Role of RECs in financing capacity development
3.TOWARDS SUSTAINABLE FINANCING OF ACBF
3.1.approach
3.2 Increase the subscribed share
3.3 Complementary contributions to the African countries' initiative
3. 4. Use of taxation to increase own resources
3.5 Recourse to the Community solidarity levy, which may be released in instalments
3.6 Use of the bond market to secure long-term financing
4.OVERALL DESIGN OF THE SUSTAINABLE FINANCING STRATEGY
4.1 Sustainable Financing Strategy
4.2 Implementation
4.3 Impacts and results