G20 Summit: Ramaphosa alert about illicit monetary flows, surroundings and Covid -19 disaster | Fin24

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President Cyril Ramphosa has announced that SA is looking at 276  new infrastructure projects to revive the economy. Photo: GCIS


President Cyril Ramphosa has announced that SA is looking at 276  new infrastructure projects to revive the economy. Photo: GCIS


President Cyril Ramphosa has introduced that SA is taking a look at 276 new infrastructure tasks to revive the economic system. Photograph: GCIS

  • President Cyril Ramaphosa shared his views on Twitter in the course of the G20 digital summit.
  • The 2-day occasion is being facilitated by the Kingdom of Saudi Arabia.
  • Ramaphosa sees the Financing for Sustainable Improvement Framework as proof of the G20’s dedication to the sustainable growth agenda.

Applicable, “at-scale” and extra finance should be ensured for creating nations, in addition to expertise switch and capacity-building assist, acccording to President Cyril Ramaphosa.

He tweeted his views on Sunday as he’s taking half in a digital summit of G20 Leaders. The 2-day occasion is being facilitated by the Kingdom of Saudi Arabia.

“The coronovirus pandemic just isn’t solely the best well being disaster of our time, but additionally a extreme social and financial disaster. The pandemic has set again international efforts to eradicate poverty and slim inequality,” tweeted Ramaphosa.

“Our restoration from the disaster requires that we redouble our efforts to fulfill our international obligations as mirrored within the UN 2030 Agenda for Sustainable Improvement – significantly our dedication to go away no-one behind and assist these furthest behind first.”

He welcomes that the Saudi Presidency has prioritised the matter of G20 Help to Covid-19 Response and Restoration Plans in creating nations, particularly Africa and small island creating states.

“We see the Financing for Sustainable Improvement Framework as proof of the G20’s dedication to the sustainable growth agenda. We’re additionally happy with the continued dedication to Africa’s growth by way of the #G20 Africa Partnership, the Compact with Africa and the G20 Initiative on Industrialisation in Africa and Least Developed Nations,” tweeted the president.

In his view, all these initiatives go a great distance in the direction of supporting the African Union’s Agenda 2063.

One problem Ramaphosa highlighted is the difficulty of illicit monetary flows, which should be addressed urgently. He identified {that a} latest report by UNCTAD famous that curbing the annual capital flight of $88 billion from Africa may doubtlessly half Africa’s SDG financing hole. 

“Tackling illicit monetary flows is a crucial developmental concern,” tweeted Ramaphosa. “We should stay agency in our resolve to guard our societies and the planet from environmental degradation.” One other necessary concern for him is the surroundings. As a part of the broader African Union restoration programme, for instance, the African Inexperienced Stimulus Programme has been developed.

“We additional stay dedicated as South Africa to assembly our worldwide obligations to fight local weather change,” tweeted Ramaphosa.

“As we sit up for COP26 in Glasgow subsequent yr, we have to prioritise the total and balanced operationalisation of all three of the worldwide objectives within the Paris Settlement, specifically mitigation, however we also needs to not neglect adaptation and assist.”

Sustainable power transitions and entry to power will each be essential to ship on the Sustainable Improvement Objectives, in his view.

“South Africa, subsequently, welcomes Saudi Arabia’s introduction of the round carbon economic system strategy to the G20. South Africa is creating the scientific information base for a transition to a round economic system,” tweeted the president.

“Now we have had some success with industrial symbiosis initiatives, the place one sector’s waste is treasured enter into one other sector. We’re creating formidable producer accountability schemes in business to handle waste successfully.”

For Ramaphosa it’s crucial that acceptable types of monetary assist are given to African nations to allow them to facilitate a inexperienced and sustainable restoration.

“Within the troublesome interval that lies forward, South Africa appears ahead to larger collaboration throughout the G20 as we work to rebuild in a way that’s extra sustainable and extra inclusive and that advances alternatives for all,” he concluded.



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