Predictable financing for long-term economic growth is key, Kaberuka tells UN Peacebuilding Commission

23/06/2015
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On Tuesday, June 23, African Development Bank President Donald Kaberuka addressed the United Nations Peacebuilding Commission in New York on the importance of sustained predictable resources for peace building.

His keynote statement, delivered through a video-link from the African continent, was the highlight of the opening session and drew on the importance of rebuilding countries and communities, so as to avoid a relapse into conflict.

While recognizing the need for additional resources, he stated that "every crisis is different" and money is "only a part of the solution.”

There cannot be development without peace and it is in this context that the African Development Bank requested President Ellen Johnson Sirleaf of Liberia to head a High-Level Panel on ending conflict and building peace. The panel’s final report and the response of the Bank form a compendium of knowledge and guidance for action.

Talking about the Bank financing mechanism, President Kaberuka showcased the Transition Support Facility and the African Legal Support Facility as examples of ring-fenced instruments that are key to assisting countries in fragile situations, in a catalytic and swift manner, including in contract negotiations of natural resources. This recognizes the importance of the private sector and the relevant risk mitigating measures.

In conclusion, President Kaberuka dwelt on the protracted nature of conflict-resolution processes, which vary from country to country and have spillover effects.

Coordination on the ground with the country in the driver's seat is of paramount importance, especially in the context of the Sustainable Development Goals Agenda and the Financing for Development conference scheduled for July 13-16 in Addis Ababa.