Conference on financing for development : statement by Mr. Abdoulie Janneh, UN under-secretary-general and executive secretary of ECA

Statement by Mr. Abdoulie Janneh, UN Under-Secretary-General and Executive Secretary of ECA at the Conference on Financing for Development. Mr. Janneh, on his remarks highlighted that, A key development challenge that Africa faces today is the mobilization of domestic and international resources to enhance productive investments, boost growth, and reduce poverty. This critical role of finance in the development process was recognized by world leaders in the 2002 Monterrey Consensus on Financing for Development. Our theme this year “Infrastructure for Growth: The Energy Challenge ” reflects the widespread acknowledgment that access to clean and reliable energy supply is necessary for accelerated economic growth and sustained poverty-reduction. It enhances the provision of clean water as well as health and education services, which are essential for poverty reduction and eradication. African countries have difficulties attracting financial resources for investments in the energy sector. Several attempts have been made to estimate the energy financing needs of the region.