The United Nations calls for support for Africa in transitioning to renewable energy

In press statements at the African Climate Summit, the High Representative insisted on the need for deep reforms so that global financial institutions can better respond to the needs of developing countries, especially those on the continent.

Guterres announced that this will be one of his calls in the upcoming meetings this month, where he will also participate in the ASEAN and United Nations summit in Indonesia, followed by the G20 meeting in India. And the meeting of the Group of 77 and China in Cuba.

He added that we need an international financial system with a structure that favors developing countries in general and African countries in particular, and we need to reform the Security Council in which Africa finally gets at least a permanent seat.

The UN Secretary-General called for recapitalizing and changing the business model of multilateral banks while ensuring an effective debt relief mechanism that supports the suspension of payments, longer loan terms and lower interest rates for African countries.

Driving a just and equitable green transition while supporting broader development across the continent requires a radical course correction, he said.

In this regard, he recalled his call for the richest countries to stimulate sustainable development goals by at least $500 billion annually, thus helping developing countries invest in their people and in the systems they need.

“The essence of all these grievances is that the multilateral system does not reflect Africa today or a world that is becoming increasingly multipolar,” he warned.

He said that global governance structures reflect the world as it was, not as it is now.

mgt/ebr