Can President Ruto's visit to Germany impact more finance for Africa?

President William Ruto's recent visit to Germany sparked discussions on the potential for increased financial support for Africa. Germany has been a significant contributor to global climate and development goals, with a focus on aiding African countries. However, David Ryfisch, Head of the Division of Future-proof Finance at Germanwatch, shared insights that shed light on the challenges and opportunities ahead. Germany's position in increasing financial contributions to Africa is crucial, given the pressing global climate finance needs. Despite being a top donor to the International Development Association (IDA) replenishment, Germany faces budget constraints that may hinder a significant increase in contributions. The ongoing budget negotiations in parliament are indicative of potential challenges in maintaining previous levels of commitment. Ryfisch emphasized the importance of reforms in the global financial system to support climate resilience and sustainable development in Africa. While Germany has collaborated with Kenya on debt, nature, and climate issues, there are mixed outcomes in pushing for deeper transformations in the debt system. The country has played a leading role in multilateral development banks' reforms, yet displays a conservative stance in certain aspects, such as the International Monetary Fund. The Hamburg Sustainability Conference exemplifies Germany's commitment to sustainability and partnership with Africa. The conference's focus on green hydrogen projects highlights potential areas of collaboration with the African continent. Looking ahead to COP29, Ryfisch highlighted the significance of developing a new collective goal on climate finance post-2025. Developed countries, including Germany, are urged to showcase genuine support for African and other developing nations. The outcome of COP29 will be crucial for Africa, as it directly impacts their ability to address climate impacts and invest in sustainable development. In conclusion, while challenges lie ahead in securing increased financial support, collaborations and policy commitments are essential in bridging the gap and advancing climate and development finance in Africa.