Symposium on High Quality Development of China-Africa Investment and Financing Cooperation

Excellencies,

Distinguished guests,

Ladies and gentlemen,

I want to offer my sincere thanks to the China-Africa Development Fund (CADFund), the Embassy of Ethiopia in China, and H.E. Ambassador Tefera Derbew Yimam for the invitation to deliver remarks at this important symposium.

I acknowledge that this year will mark the 60th anniversary of the Organization of African Unity, which will coincide with the 10th anniversary of the Belt and Road Initiative.

So this convening comes at a critical moment, with progress toward the Sustainable Development Goals (SDGs) stalled, and we must take ambitious, meaningful steps if we hope to put ourselves back on track.

In Africa alone, it is estimated that achieving the SDGs could open US$ 12 trillion in market opportunities and create 380 million jobs by 2030. With 2023 designated as the year of the Africa Continental Free Trade Area, we also acknowledge that this market offers an opportunity to achieve the SDGs and the African Union’s Agenda 2063. However, environmental degradation, climate disasters, weakened economies, violent extremism, rapid urbanization, and other factors undermine progress on the continent.

Africa’s sustainable development remains a high priority for the UN system. This includes the UN Country Team in China. Having spent half of my career in Africa, I firmly believe in its people and their potential. I trust in their dynamism and capacity to break historic injustices of their past, rise to present challenges, and realize their aspirations for the future.

China’s increasingly important role in South-South Cooperation presents enormous opportunities to address the development challenges in countries throughout the Global South, including in Africa, through the creation of meaningful partnerships, technology transfers, and technical assistance.

The UN in China remains committed to supporting China’s international development cooperation efforts, to ensure alignment with recognized international norms and standards, and with a view to accelerate global progress on the SDGs. To this end, we aim to support China-Africa cooperation that is demand-driven and in line with countries’ expectations, local needs and national development priorities, as well as the 2030 Agenda and Agenda 2063.

In order to achieve this, my office has spearheaded the China-Africa-UN Transformative Partnerships Initiative (TPI). With an initial focus on food security and agricultural cooperation in countries in the Horn of Africa, the TPI intends to build partnerships between China, African Countries, UN agencies, the private sector, foundations, and financial institutions on both sides to accelerate the SDGs and bring real impact to people and communities.   

We are gathered here today with these same goals in mind—to better understand the needs and opportunities for cooperation, with a focus on agriculture, manufacturing and production capacity, and infrastructure development. Strong, demand-driven investments and partnerships in these areas have the potential to transform the continent. But we must work together, and we must pursue pioneering, catalytic modalities for bringing about the change that is necessary.

We need innovative partnerships that support sustainable initiatives aimed at building local capacities at every level.

We need financial resources that match the profound needs seen in countries across the continent, including for those currently enduring drought and food insecurity that is threatening the lives of millions.

We need to reimagine and recraft the global financial system so that it does not favour the wealthiest countries in the world and disadvantage the least developed countries.

In the words of UN Secretary-General António Guterres, “No more excuses…. We need a revolution of support.”

We need support from all stakeholders, and we need it now.

The SDGs —including climate action, zero hunger, and no poverty—cannot be achieved through the efforts of governments and multilateral organizations alone. Therefore, the private sector and financial institutions are critical to addressing these most pressing needs.

Our host, CADFund, as an initiative of the Forum on China-Africa Cooperation, plays an important role in this regard, having committed to invest over $6.6 billion in Africa and having helped mobilize about $31 billion of Chinese investment there to date.

This progress is welcome, but much more is needed from the private sector and financial institutions. Here, the UN stands ready to facilitate linkages, forge partnerships, and share technical expertise to help align these interventions with the SDGs and ensure that investments serve both people and planet, and leave no one behind. But we must act now.

I thank you and look forward to the meaningful discussions taking place today.