Carnegie Endowment for International Peace
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It could mark a shift toward a more inclusive financial system for the climate- and debt-stressed Global South.
With the U.S.-Africa Leaders Summit, Washington appears to be finally reframing its relationship with Africa in largely positive terms. Yet much hinges on the financing and implementation of the dozens of initiatives announced at the summit.
The agreement on a new loss and damage fund is one of the summit’s bright spots, but more needs to be done to deliver the trillions of dollars needed to finance the low-carbon transition.
The revamped partnership is driven by discernible global shifts.
The summit outcomes are unlikely to match the EU’s rhetoric on a new partnership of equals. But the two continents are starting to realize that they need each other.