Link to article: https://www.reuters.com/markets/rates-bonds/african-development-bank-postpones-investment-forum-due-omicron-variant-2021-11-29/
On Tuesday, November 29, The African Development Bank, or AfDB, announced they would be postponing its investment form due to the new COVID variant Omicron. The forum was set to take place from December 1-3, but has been delayed to an unspecified date. While behind the scenes discussions over funding will continue, the delay still stops the supposed 118 deals. Members that were set to attend the form included representatives from South Africa and Nigeria, as well as investors from the U.S.
This delay could have a major effect on future developments for African countries. The continent is one of the fastest growing areas in the world, with foreign investment having a major impact on infrastructure development. With a combined investment value of over 110 billion dollars, major investments into Africa will be delayed to an unknown date, and could be affected by the emergence of Omicron.
This relates to International Relations through global actors. Multiple Heads of States were set to attend the form, as well as non-state actors such as the U.S. investors. The AfDB is considered an example of an economic IGO.