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New Africa Sustainable Development report shows critical importance of scaled-up development financing

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By: Alex Adi

The United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (ECA), and the African Development Bank (AfDB) (www.AfDB.org) presented the 2024 Africa Sustainable Development Report (ASDR), at an event held on the margins of the UN High-Level Political Forum for Sustainable Development in New York.

Scaled-up access to concessionary development financing, strengthened climate information and early warning systems, and economic reforms are amongst the key recommendations raised in the new ASDR, titled “Reinforcing the 2030 Agenda and Agenda 2063 and Eradicating Poverty in Times of Multiple Crises: The Effective Delivery of Sustainable, Resilient and Innovative Solutions.”

The report provides an in-depth review of African countries’ progress towards five sustainable development goals and their 32 targets to meet the 2030 Agenda and the African Union 2063 Agenda. The five SDGs under review are: ending poverty (Goal 1); eliminating hunger (Goal 2); combating climate change (Goal 13); promoting peaceful societies (Goal 16) and strengthening global partnerships (Goal 17).

The research shows that Africa is on track to reach only less than three of the 32 targets assessed in this report (ASDR-2024) and that setbacks have been recorded for 8 of them, with slow progress or status quo registered for the remaining targets.

“Advanced economies have rebounded from COVID-19, but many countries in Africa struggle with high debt, double-digit inflation, and limited access to crucial development and climate funding. Disparities in the Human Development Index are widening between top-ranking nations and those at the bottom, highlighting significant challenges across Africa despite some progress in recent decades.]” said Claver Gatete, ECA Executive Secretary.

Africa has made strides in poverty reduction (goal 1), despite setbacks from crises like COVID-19, which increased poverty rates significantly, as in 2022, Africa accounted for more than half (54.8 percent) of people living in poverty worldwide. Efforts are underway to enhance social protection systems, which currently cover only 17.4 percent of the population, though still well below the global average.

Access to drinking water has increased, on average, from 68.7 percent in 2015 to 72.9 percent, and basic sanitation services now reach 52% of the population, with ongoing efforts to meet global standards.

Efforts to combat hunger, undernourishment, and stunting (goal 2) in Africa are crucial. Despite challenges such as increased hunger affecting 281.6 million people in 2022, up by 11 million compared to 2021, initiatives are underway to address these issues and need urgent support. Measures include improving agricultural investment and aid to enhance food security.

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