Joint Declaration on Sustainable Industrialization

The Africa Finance Corporation (AFC) Signs Joint Declaration with UNIDO to Promote Sustainable Industrialization

The Africa Finance Corporation (AFC) has signed a joint declaration with the United Nations Industrial Development Organization (UNIDO) to promote sustainable industrialization and has pledged to support the ‘Partenariat pour le coton’ initiative, which seeks to strengthen Africa’s position in global textile and apparel value chains.

Commitment to Sustainable Development Goals (SDGs)

The AFC signed the affirmations, consistent with its commitment to advancing Africa’s sustainable development, during the ongoing Aid-for-Trade Global Review at the World Trade Organization’s (WTO) headquarters in Geneva, Switzerland.

Promoting Sustainable Industrialization

The goal of the AFC’s partnership with UNIDO is to promote sustainable industrialization in developing nations. The two organizations work together to mobilize the knowledge, skills, and financial resources needed to meet the UN Sustainable Development Goals (SDGs), while also supporting energy access and transition, industrial decarbonization, and the growth of agro-industries.

Supporting the ‘Partenariat pour le coton’ Initiative

AFC has committed to engage with UNIDO, the WTO, the International Trade Centre (ITC), the African Export-Import Bank (Afreximbank), and the International Islamic Trade Finance Corporation (ITFC) to assist the ‘Partenariat pour le coton’. This program seeks to strategically position African nations, particularly Benin, Burkina Faso, Chad, Mali, and Côte d’Ivoire, into global textile and apparel value chains. The cooperation will concentrate on the development of regional hubs for sustainable textiles in order to increase trade competitiveness and economic development in Africa’s cotton sectors. The project, which is supported by a joint declaration aligned with the UN SDGs, aims to reform the cotton sector by implementing sustainable practices, creating jobs, empowering women and youth, and improving technology and infrastructure.

AFC’s Role in Modernizing Africa’s Textile Industry

‘Partenariat pour le coton’ expands AFC’s already major role in modernizing Africa’s textile industry by investing in ARISE IIP’s Glo-Djigbé Industrial Zone (GDIZ) in the Benin Republic. The GDIZ has a textile manufacturing plant that transforms locally sourced raw cotton into completed t-shirts for sale in domestic and international markets. GDIZ’s ‘Made in Benin’ t-shirts are currently available at the Children’s Place Store in the United States, and it recently shipped 80,000 children’s leggings to the French brand Kiabi. This milestone demonstrates Africa’s textile industry’s great potential and represents a big step forward in Benin Republic’s integration into the global textile and garment market.

AFC’s President and CEO, Samaila Zubairu, said: “These joint declarations are a reaffirmation of AFC’s commitment to driving sustainable development in Africa. By partnering with esteemed global organizations such as UNIDO and supporting transformational initiatives like the ‘Partenariat pour le coton,’ we are setting the stage for rapid economic and industrial advancements that will create quality jobs and wealth.”

Infrastructure Investment Opportunities

AFC’s recently published “State of Africa’s Infrastructure Report 2024” identified significant infrastructure gaps and, correspondingly, immense investment opportunities in key sectors including power, transport, and digital communications.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 9: Industry, Innovation, and Infrastructure
• SDG 12: Responsible Consumption and Production
• SDG 8: Decent Work and Economic Growth
• SDG 5: Gender Equality

The issues highlighted in the article are connected to these SDGs because they focus on promoting sustainable industrialization, responsible consumption and production, economic growth, and gender equality.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 9.2: Promote inclusive and sustainable industrialization
• Target 12.2: Achieve sustainable management and efficient use of natural resources
• Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation
• Target 5.5: Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic, and public life

The article mentions the promotion of sustainable industrialization, sustainable practices in the cotton sector, job creation, and women’s empowerment, which align with these targets.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

No specific indicators are mentioned or implied in the article that can be used to measure progress towards the identified targets.

Overall, while the article highlights initiatives and commitments related to the Sustainable Development Goals, it does not provide specific indicators to measure progress towards the targets.

Source: itnewsafrica.com