South African Pres. Ramaphosa Calls For End to Poverty and a New Global Deal

UN General Assembly celebrating 75th anniversary virtually - YouTube

South African President, Cyril Ramaphosa in his address to the United Nations calls for the necessity to end poverty in Africa and the need to establish a New Global Deal that provides affordable credit. I fully support these goals. I have advocated for the creation of a New Bretton Woods for decades. Without a new international financial architecture that provides long-term low-interest credit to developing nations for infrastructure, African nations will not be able to fulfill their ambition to end poverty.

Address by President of the Republic of South Africa and African Union Chair, President Cyril Ramaphosa at the 75th United Nations General Assembly Debate, September 22, 2020

Excerpts below:

“When the Secretary-General António Guterres delivered the 18th Nelson Mandela Annual Lecture in July 2020, he called on the nations of the world to forge a New Social Contract and a New Global Deal.

“He said we must create equal opportunities for all, that we must advance a more inclusive and balanced multilateral trading system, that debt architecture must be reformed, and that there should be greater access to affordable credit for developing countries…

“As the African Union we are encouraged by the collaboration of the G20, the IMF, the World Bank and the UN towards finding solutions to debt sustainability in developing countries.

“It is a call we as South Africa wholly endorse.

“This pandemic has highlighted the urgency with which we must strive to meet all the Sustainable Development Goals, but more importantly Goal 1 – to end poverty in all its forms everywhere.

“For until we eradicate global poverty, we will always fall short of realizing the vision of the founders of the United Nations…

“Together, we must raise our level of ambition to ensure that every man, every woman and every child has an equal chance at a better future.

“It is a future free of hunger, disease, insecurity and war.” (emphassis added)

Read full speech: South Africa Pres Ramaphosa Address to the UN

Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in the economic development policy of Africa for over 30 years. He is the creator of the blog: lawrencefreemanafricaandtheworld.com

Fruitful Cooperation: Ethiopia and China’s Belt and Road

Celebrating the inauguration of the new Addis Ababa to Djibouti railway on October 6, 2016, which I attended

 

China-Ethiopia dialogue highlights sustainable investment under BRI

BEIJING, Dec. 1 (Xinhua) — Ethiopia is hoping to attract more sustainable investment from Chinese enterprises as fruitful cooperations have been carried out under the Belt and Road Initiative (BRI).

At the China-Ethiopia High-Level Dialogue on Sustainable Investment held in Beijing on Friday, both Chinese and Ethiopian officials expressed their hope to consolidate collaborations to boost the achievements of sustainable development goals (SDGs).

Aschalew Tadesse Mecheso, a senior official with Ethiopian Investment Commission (EIC), said Ethiopia looks forward to more investment in the sectors of information and communication technology and light industries so as to create more jobs for young people who account for around 70 percent of the country’s population.

Aiming to facilitate knowledge exchanges and build networks to promote sustainable investment in Ethiopia, the event attracted over 200 participants from governments, industries, development agencies and think tanks.

Guo Xuejun with the Ministry of Foreign Affairs took the Addis Ababa-Djibouti Railway as an example of the fruitful cooperations between the two countries under the BRI.

Apart from the railway that has significantly shortened the time of transporting goods from Ethiopia to Djibouti, he also mentioned a new economic cluster that is emerging along the railway with the construction and development of several industrial parks.

China looks forward to working with Ethiopia to initiate more connectivity projects that are high-quality, sustainable, resilient, affordable, inclusive, accessible and broadly beneficial, Guo said.

The country is also dedicated to promoting trade and investment liberalization and facilitation, opposes protectionism and aims to make greater contributions to the implementation of the 2030 Agenda for Sustainable Development, he said.

Beate Trankmann, Resident Representative of the United Nations Development Programme (UNDP) in China, said the BRI’s key projects, which focus on connectivity and integration, could help unlock the funding and know-how to fulfill the SDGs, if relevant investments follow sustainability criteria and principles of the SDGs.

At the event, organized by the UNDP and supported by the Ministry of Foreign Affairs, China’s embassy in Ethiopia and the EIC, investors also discussed the opportunities and challenges to invest in Ethiopia