Economic & Financial Governance

There is a consensus in Africa that governance underpins sustainable development and poverty reduction. The defining governance challenges in Africa are: (visionary) leadership, (effective) institutions, and (indigenous) capacity. Weak governance institutions represent key impediments to equitable growth, economic competitiveness and private sector development.

Stronger public sector institutions and improved country systems for managing public resources will contribute to the building of capable states, encourage engaged civil societies and improve accountability and transparency. This is the foundation for equitable development and also for a better business environment.

The AfDB’s ambition is to become a partner of choice for Regional Member Countries (RMCs) in order to strengthen financial governance by 2012. In order to achieve this, Bank Group governance activities will be deployed at three levels: the country, sector, and regional levels. The core objective remains to help African countries build capable and responsive states by strengthening transparency and accountability in the management of public resources.

Various projects, partnerships and work streams of the Governance, Economic and Financial Management Department:

• African Peer Review Mechanism (APRM)
• Extractive Industries Transparency Initiative (EITI)
• Investment Climate Facility (ICF)
• Making Finance Work for Africa (MFW4A)
• Strategic Partnership with Africa (SPA)

Note: This list is not meant to be exhaustive, but rather illustrative of our endeavors.