As part of the ETTG project, with Agence Française de Développement (AFD), we had the pleasure of hosting a timely webinar discussion ahead of the Fourth International Conference on Financing for Development (FfD4) on “Reform of the international financial architecture – Making the 4FFD a success: Latin America and the
To which extent the framework and initiatives for EUAfrica relations are still fit for purpose, in particular in terms of mobilisation of resources for Africa’s resilience and sustainable
development, or must be adapted to better respond to the new era of poly-crises?
The covid-19 pandemic has generated severe health, economic and debt crises for the least developed countries (LDCs). On the one hand, they cannot mobilise sufficient financial resources on their own to cope with the effects of the pandemic because their public revenues are too low and external finance is not always available. On the other hand, many LDCs have been highly indebted, even prior to the crisis.
A recent IAI study has argued that several shortcomings in the climate and development finance systems undermine the capacity of countries in the Global South to tackle climate change¹. Insufficient resources, lack of focus on adaptation, inadequate management of climate risks, the vicious circle between indebtedness and climate vulnerability are some of the major obstacles.
