The African Union calls for more investment, development financing and sustainable jobs at the 2026 World Bank-IMF Annual Meetings in Bangkok….reports Africa Daily News Desk
The African Union Commission has called for increased investment, development financing and stronger economic cooperation across the continent during the 2026 World Bank Group-IMF Annual Meetings in Bangkok, Thailand. Deputy Chairperson Selma Malika Haddadi participated in the African Caucus Meeting with World Bank Group President Ajay Banga, where discussions focused on mobilising private capital, creating sustainable jobs and accelerating industrialisation in Africa.
The high-level meeting addressed key development priorities, including skills development and support for micro, small and medium-sized enterprises (MSMEs) to generate employment for Africa’s growing youth population.
Participants also highlighted the need to accelerate industrialisation, mineral beneficiation and local value addition to strengthen African economies and expand economic opportunities.
Developing strategic economic corridors was another priority discussed at the meeting. Such corridors are intended to support infrastructure development, regional integration, private investment and industrialisation, while creating sustainable employment, particularly for young people.
The African Caucus also stressed the importance of increasing investment and development financing for the continent, including through the International Development Association’s 22nd replenishment (IDA22), to advance structural economic transformation and inclusive growth.
World Bank stresses coordinated engagement with Africa
In his remarks, Banga emphasised the importance of working with and through the African Union rather than pursuing fragmented initiatives across the continent.
He highlighted the commitment of the World Bank Group and IMF leadership to adopting a more coordinated and strategic approach to engagement with Africa.
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Banga also acknowledged the new African Union Commission leadership’s commitment to strengthening cooperation with the World Bank Group and recognised the AU’s central role in advancing the continent’s development priorities.
The discussions underscored the importance of aligning international development support with Africa’s priorities and strengthening partnerships to translate policy objectives into investment and employment opportunities.
AU reaffirms strategic partnership with World Bank Group
The African Union reaffirmed its commitment to deepening its strategic partnership with the World Bank Group to turn the continent’s development priorities into tangible investments, sustainable jobs and greater economic opportunities.
The partnership is intended to support the objectives of the African Union’s Agenda 2063, which sets out the continent’s long-term development aspirations.
The meeting formed part of the ongoing 2026 World Bank Group-IMF Annual Meetings in Bangkok, where development financing, investment and economic growth remain key areas of discussion.
