The Chairperson of the African Union Commission, Mahmoud Ali Youssouf, met with Makhtar Diop, the Managing Director of the International Finance Corporation (IFC), which is part of the World Bank Group. They talked about ways to strengthen the partnership between Africa and the World Bank to help Africa grow and develop. During their discussions, they focused on encouraging investment in African projects, especially in infrastructure and industries, by using funds from African pension and institutional investors. They also talked about improving trade within Africa by fixing issues like poor infrastructure and regulations that make it hard to move goods and services across borders. A key point of their conversation was how to boost Africa's ability to produce medicines and vaccines, which includes working with the African Medicines Agency to set common rules and create markets for health products made in Africa. They also discussed the importance of energy projects, including regional energy markets and private investments in power infrastructure, as well as the need for better transport and financial systems across the continent. Additionally, they highlighted the necessity of digital transformation in Africa and the importance of maintaining peace and stability, which are crucial for attracting investments and promoting sustainable development. Both leaders agreed to continue working together to help Africa become more integrated, self-sufficient, and capable of funding its own growth.
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