African heads of states meet in Nairobi for World Bank summit

(29 Apr 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Nairobi, Kenya - 29 April 2024
1. Various of Kenya's President William Ruto standing during playing of anthems
2. People attending International Development Association conference, known as IDA
3. Various of audience, African heads of state
4. World Bank Group President Ajay Banga walking to podium to speak
5. SOUNDBITE (English) Ajay Banga, World Bank Group President:
"We are here united by a shared vision of the future of Africa, a continent that is rich in diversity, in culture, in potential. It is very easy to feel hopeful when we are together anywhere in Africa. You feel the sun in your face, the wind in your back, the fertile and mineral rich earth under your feet and most importantly, you feel the infectious energy of young people. But these are the ingredients that can power the future. They are not new blessings."
6. Various of Ajay speaking and leaving the stage
7. Pull focus from Ruto tos leaves
8. SOUNDBITE (English) William Ruto, President of Kenya:
"IDA stands out for its rapid and decisive action during crisis, distinguishing itself from other funding sources. Its demand-driven programmes, combined with concessional loans of 40-50 years empower borrowing nations to pursue sustainable long-term development strategies, and this is what we have been asking for. Long-term, concessionally. We now want to discuss in this meeting, scale."
9. Delegates applauding as Ruto leaves stage
10. IDA Director of Resource Mobilization Dirk Reinermann looking on
11. Promotional IDA banner with text reading (English): "#IDAWORKS"
12. SOUNDBITE (English) Dirk Reinermann, IDA Director of Resource Mobilization:
"We disburse about 30 billion dollars per year and 70% of that goes to Africa. Last year alone in our fiscal year, we disbursed 18 billion dollars on a net basis. So this is short of what countries repay in our very, very highly concessional loans - 18 billion dollars - just to the African continent. And that goes into education, it goes into health, it goes into these infrastructure projects that I was talking about. So fairly large numbers and going forward in IDA21, we want to be even more ambitious because the challenges are great but the opportunities are also great."
13. Various of exterior of Kenyatta International Convention Centre
14. Flags outside
STORYLINE:
African heads of state are meeting in Nairobi on Monday for the International Development Association summit, where favourable lending and repayment structure to African countries top the agenda.
Established in 1960, IDA is part of the World Bank and aims to reduce poverty by providing grants and zero-to low-interest loans for programmes that boost economic growth, reduce inequalities and improve people’s living conditions.
Last year alone, IDA disbursed 18 billion dollars to African countries.
IDA's "demand-driven programmes, combined with concessional loans of 40-50 years empower borrowing nations to pursue sustainable long-term development strategies," Kenya's President William Ruto said.
IDA's Director of Resource Mobilization Dirk Reinermann spoke about the organisation's commitment to scale up resource disbursement.
"Going forward in IDA21, we want to be even more ambitious because the challenges are great but the opportunities are also great," Reinermann said.
IDA has projects across 75 countries, with 39 being African states.
AP video shot by Josephat Kasire and Jackson Njehia
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