Seville: The African Union's Agenda 2063 aims to transform Africa into an industrialized, integrated, and economically sovereign continent, the organization's President, Joo Louren§o, declared Monday in Seville, Spain. During his speech at the 4th International Conference on Financing for Development, the Angolan President said that these objectives are achievable with more effective mechanisms to mobilize financial resources addressing the challenges faced by developing countries.
According to Angola Press News Agency, Louren§o emphasized that Africa has abundant natural resources to make significant progress, contributing to strengthening the global economy and resolving various global crises. He highlighted Angola's commitment to mobilizing internal resources, strengthening fiscal governance, and combating capital flight, emphasizing the importance of the United Nations Convention on International Taxation.
Louren§o noted encouraging progress in negotiations and stressed the historic opportunity to correct global tax system imbalances, ensuring fair representation for developing countries in international tax decisions. He also pointed out Africa's vulnerability to climate change, despite being one of the least responsible regions for greenhouse gas emissions.
The AU president argued for increased climate finance for adaptation and mitigation, support for a fair energy transition, and debt-to-environment action incentives. He emphasized that climate resilience should align with debt relief and sustainable economic models.
Louren§o identified the Seville Conference as a crucial moment for global sustainable development reflection and decision-making to drive Agenda 2063's implementation. He advocated for a new financing model based on economic justice and inclusion to provide Africa with resources and conditions necessary for transformation.
The conference, organized by the United Nations, gathers over 60 world leaders and approximately 4,000 civil society representatives to find solutions to global development imbalances. Discussions focus on new financing forms and international cooperation, ten years after the Addis Ababa Action Agenda's adoption. The UN warns that the current model has failed to deliver on promises to vulnerable populations, with the global development financing gap estimated at 4 trillion US dollars annually. Reforming international financial system rules remains a key debate focus.