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2009 Trust Funds Annual Report
With its mission to enhance sustainable economic development and poverty reduction in Africa, the African Development Bank Group promotes different types of partnerships and cooperation arrangements to mobilize resources. This is done through trust funds to supplement its core resources. In 2009, UA 110.8 million was mobilized from donors for bilateral and thematic funds. In September 2009, the Bank’s three-year Technical Cooperation Funds Reform Program came to an end. The reform aimed to simplify and standardize the policies and procedures for trust funds administration with a view to ensuring that the allocation of trust fund resources would be well aligned with the Bank’s operational priorities. Key policy reforms included promotion of multi-donor thematic funds, phasing out of tied bilateral funds and introduction of a standard administrative fee. Key process reforms included standardization of agreement templates, institutionalization of annual work programming, and establishment of an IT-based trust fund management system and strengthening of the results-focus of trust fund operations. Significant progress towards implementation of the reform program has been made, but challenges still remain.