President William Ruto has emphasized that the International Development Association (IDA) offered win-win opportunities for both donors and recipients, especially in renewable energy investments.

Speaking on Monday, Ruto said when the donors invest in renewable energy, Africa, with enough human resources, it can continue manufacturing and industrialisation, whose outcome it will share with the rest of the world.

“If there was a case to be made for a win-win outcome, IDA is a good example. The donors win and recipients win,” Ruto said.

“The donors will put money into renewable energy and we can continue manufacturing and industrialisation using energy. We have labour in abundance and we can share the outcome of that with the rest of the world,” he added.

The President further explained that by investing in IDA, 60 per cent of the world’s arable and uncultivated land will be unlocked, meaning food security and nutrition for the globe.

He said that the investment will also unlock the human resource potential in the African continent.

“Being the youngest continent, investing in education, health, and social protection allows us to provide 40 per cent of the world’s workforce by 2050.”

President Ruto added that investing in IDA will allow Africa to decarbonise the global economy by providing green growth.

“Let me say this, our continent processes 60 per cent of the world’s prime solar resources and our untapped renewable energy potential exceeds 50 times the projected global electricity demand by 2040,” he said at the 21st IDA Africa Heads of State and Government meeting held in Nairobi.

The meeting brought together 20 African Heads of State.