- The UK’s Minister for Africa and Development is visiting Cape Verde to attend the 2023 Conclave of the World Bank and IMF Africa Governors.
- Andrew Mitchell will call for urgent reforms to bring about a bigger, better and fairer international financial system in his address to the Caucus.
- He is also scheduled to meet the Prime Minister of Cape Verde to discuss the growing bilateral partnership between our two countries.
Today (Saturday, 8 July), the UK’s Minister for Development and Africa, Andrew Mitchell, is visiting Cape Verde to attend the 2023 Africa Caucus Meeting as an honorary guest. attend. The Caucus convenes the African Governors of the World Bank and the International Monetary Fund along with senior management from those institutions. This is the first ministerial visit to Cape Verde in his current role, with the UK being the only non-African country to be represented at ministerial level.
In his closing remarks at the Caucus, the Minister will call on the World Bank Group to further expand existing resources and mobilize significant additional private capital to tackle extreme poverty and help communities. vulnerable copper to climate change. In addition, he will call for a stronger offer for the poorest countries, and call for a more responsive World Bank Group to assist countries more quickly and effectively in crises. panic.
The Minister will also welcome the World Bank’s recent commitments to introduce climate-resilient debt provisions that will allow countries to pause repayment if they are affected by the shock. climate and the UK has been at the forefront of implementation.
Development and Africa Minister Andrew Mitchell said:
The climate crisis is hitting millions first and hardest across Africa. We therefore urgently need to deliver ambitious reforms to ensure that the international financial system helps the most vulnerable countries to face the enormous challenges they face.
I am grateful for the kind invitation from the World Bank’s African governors to speak at their annual meeting and highlight how Britain will support them in our joint efforts. .
The minister will also meet Prime Minister Ulisses Correia e Silva to discuss the UK’s growing partnership with Cape Verde, which now attracts 300,000 British tourists a year. It is the second most popular tourist destination in Africa for people from the UK. The conversation is also expected to cover maritime security cooperation, the UK’s new Developing Countries Trade Program and growing cooperation on small island states issues. development (SIDS).
They will also discuss how the UK can support advocacy coordination among SIDS in Africa. The UK is a major supporter of efforts to promote international financial reform to support climate action for these countries. Earlier this year, the UK pledged £1 million to drive action ahead of the one-off SIDS Conference over the next decade, including helping them better prepare for the climate crises.