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Dr. Akinwumi Adesina. Pix: Generation Limited
• Urges nations to prioritise financing for accelerated devt
President of African Development Bank (AfDB) Group, Dr. Akinwumi Adesina, has raised the alarm over failing global financial architecture, calling for a modification to accelerate achievement of Sustainable Development Goals (SDGs).
Adesina made the call at Oxford University, London, during the commencement ceremony for the Masters of Business Administration (MBA) Class of 2023, Saïd Business School.
He said unless global leaders prioritise financing for developing countries, chances of nations achieving the collective dream of a more just and equitable world would be a mirage.
He said: “We must ensure equal opportunities for all. Regardless of one’s economic, social, or racial background, we must create a level playing field for a more just, fair, and equitable world; a better world for 940 million people who are without electricity; a better place for three billion people without clean cooking energy — a majority who are women, and of which millions and their children die from inhaling smoke while trying to cook decent meals for their families;
“A better world for two billion people without access to clean water and 4.5 billion people without sanitation; a better world for the 1.7 billion people without access to basic finance, credit, savings, payments, or insurance; a better world for the 244 million children that are out of school, including 129 million girls. Many of them have dreams just like you today.”
According to Adesina, “the world faces many complex challenges. At the top of this is climate change, which poses existential risks for the world. We must do all we can to keep global warming to no more than 1.5 degrees Celsius. We need innovations to power the world better with renewable energy.
“However, they cannot achieve their dreams and neither can our world achieve our collective dream of a more just and equitable world, unless we prioritise financing for developing countries to accelerate development.”
While congratulating participants of the MBA Class of 2023, he urged them to embrace integrity, adding that while the degree would open doors for them, integrity would keep them successful and make the world a better place.
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