October 09, 2015
The African Union together with its partners have put forward a proposal to introduce a new financing option – Malabo Facility, dedicated to funding the functions of the Specialized Technical Committee (STC) on Agriculture, Rural Development, Water and Environment.
The proposal was announced at the on-going meeting of Specialized Technical Committee (STC) on Agriculture, Rural Development, Water and Environment (ARDWE) in Addis Ababa, Ethiopia.
The Specialized Technical Committees are composed of Ministers or senior officials responsible for sectors falling within their respective areas of competence. They are responsible for preparing projects and programmes of the Union and submit it to the Executive Council. They also have the duty to ensure the supervision, follow-up and the evaluation of the implementation of decisions taken by the organs of the Union and the coordination and harmonization of projects and programmes of the Union.
Komla Bissi, Comprehensive Africa Agriculture Development Programme (CAADP) coordinator tells journalists in an exclusive interview that the facility will be expected to leverage additional financing from different sources, to support member countries in implementing the Malabo commitment programs that have been identified.
Currently, CAADP is in consultation with member states to seek a way on how they would want the Malabo Facility to be channeled, and which elements of their programs the finances should be directed to. We recognize the need for us to put a financing mechanism that addresses expert financial gaps within the countries, in the context of implementing the investment plans,” said Mr. Bissi.
He was however quick to note that the facility will not undermine the existing financing plan at the national level, but rather compliment efforts that are in existence. Also he pointed out that the facility will be more flexible than the previous CAADP multi-donor trust fund that they have had in the past.
Bissi was hopeful that the on-going discussion would be successful and the specific recommendations presented to the Ministers for consideration.