Resource Mobilization & External Finance Department (FRMB)
The role of the Resource Mobilization and External Finance Department (FRMB) is to support the financing of Africa’s transformation based on AfDB’s Ten-Year Strategy for 2013-2022. Divided in two divisions, the Department leads the Bank Group’s resource mobilization, partnerships, and management of donor and partner relations. The Department achieves its mission by targeting sovereign and non-sovereign entities which have an interest in Africa.
The FRMB.1 Division is responsible for fund-raising initiatives and partnerships with sovereign entities. It is mandated to mobilize, allocate and monitor resources for the Bank’s statutory capital including the African Development Fund (ADF) and ensuring compliance with the ADF rules and the commitments taken upon the replenishment negotiations. It leads, coordinates and supports the implementation of HIPC and MDRI. The FRMB.1 Division coordinates the Country Policy and Institutional Assessment (CPIA) and is responsible for the process of allocating ADF resources among beneficiary countries, and monitors their use in accordance with various ADF policies and guidelines. The FRMB.1 Division leads the partnership with sovereign entities such as bilateral aid agencies and manages bilateral trust funds. The Unit monitors the use of the allocated resources and produces a periodic Monitoring Report. The Division 1 is also involved in the management of bilateral Trust Funds of legacy development partners.
The FRMB.2 Division manages the coordination of relations and strategic partnerships with non-sovereign entities and international institutions (including pan-African and regional organizations, Bretton Woods Institutions, UN, Multilateral and Regional Development Banks, foundations, the World Economic Forum, and others).
The Division promotes co-financing with non-sovereign entities. It is expected to find innovative ways to partner with non-traditional donors and to work with other departments of the Bank Group seeking to find resources for their initiatives (e.g. Africa50). The FRMB.2 Division works to develop innovative financial products and risk mitigation instruments which catalyze private capital to finance development in Africa. The Division serves as a central focal point for the Bank’s partnerships management and monitors the implementation progress and results of the Bank’s partnerships and cooperation work. The Nigeria Trust Fund (NTF) is also under the Division.
FRMB reports directly to the Vice-President in charge of Finance (FNVP).
FRMB1. Main’s activities are as follows:
- Coordinate the tri-annual ADF replenishment exercise and related resource mobilization work;
- Develop and update the resource allocation methodology in coordination with other International Financial Institutions;
- Manage the annual allocation of ADF resources and monitor the use of these resources;
- Manage all debt matters, including HIPC Decision and Completion Point documents.
FRMB2. Main’s activities are as follows:
- Coordinate the negotiation and formalization of the Bank’s institutional partnerships arrangements with development partners worldwide through Partnerships MOUs and Technical Cooperation Agreements;
- Oversee the establishment and utilization of Trust Funds;
- Coordinate the establishment of structured co-financing arrangements with major co-financiers for investment projects;
- Coordinate donor-sponsored secondment and technical assistance programs;
- Coordinate the organization of Business Opportunities Seminars to enhance business collaboration with partner countries; and
- Coordinate high-level partnerships events and consultative meetings and missions with key strategic partners.
- The President and the Board of Directors on the HIPC papers;
- The Senior Management Coordinating Committee on the ADF papers and meetings;
- All Complexes on coordination and preparation of documents for ADF replenishment consultations;
- All operational departments (including country and regional departments), units, and field offices on allocation, utilization and monitoring of ADF resources.
- The President and the Board of Directors on strategic partnerships;
- All complexes on Bank-wide coordination, consultations and monitoring on partnerships-related matters; and
- All operational departments, units and field offices on the utilization and monitoring of Trust Fund and co-financing resources as well as secondees and technical assistants.
- The Asset and Liability Management Committee (ALCO). ALCO is the Bank’s most senior management forum on finance and financial risk management issues.
- ADF deputies and donors;
- Other multilateral development banks and other professional bodies on exchange of information and experience.
- development partners, including: traditional donors, emerging donors, multilateral development banks, academia, knowledge institutions, African institutions, and private sector institutions.
- Major traditional partners include Austria, Canada, Denmark, Finland, France, Germany, India, Italy, Japan, The Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom and the United States. Multilateral partners include the European Commission/European Investment Bank, UN Agencies and the World Bank Group.
- 19/08/2017 - AfDB President makes clarion call for action on challenges hampering growth at 37th SADC Heads of State Summit
- 19/08/2017 - Speech delivered by Akinwumi A. Adesina, President of the African Development Bank Group, at the 37th Summit of the Heads of State and Governments of the Southern Africa Development Community, August 19-20, 2017, Pretoria, South Africa
- 18/08/2017 - ALSF weighs in on Uganda’s oil refinery project
- 09/12/2015 - AfDB approves US $53 million for water in Zimbabwe and financial reform in Chad
- 12/08/2015 - Fitch affirms African Development Bank at ‘AAA’; Outlook stable
- 29/05/2015 - Interview with Stefan Nalletamby, Director, Financial Sector Development, AfDB
- 06/02/2015 - AfDB issues 1.375% USD 1 billion global benchmark due 12 February 2020
- 03/12/2014 - AfDB issues a 6.625% ZAR 500 Million Eurobond due 9 December 2017