Governance Trust Fund Oversight Committee Holds First Meeting
Allocates USD2.5 Million for activities in eight countries
The Oversight Committee of the Governance Trust Fund met for the first time this week. The meeting was held under the chairmanship of Mr. Kamal El Kheshen, Vice President for Sector Operations, and took place at the AfDB’s Temporary Relocation Agency in Tunis.
The Governance Trust Fund is financed by Norway and Switzerland and managed by the AfDB’s Partnerships and Cooperation Unit. It is expected to help the Bank assist its regional member countries to build capable and responsible states by strengthening transparency and accountability in the management of public resources. The fund will support innovative interventions that are able to demonstrate the potential to promote and achieve results in the area of good governance.
Members approved rules and procedures, the fund’s guidelines, and the 2011 work plan, which focuses on internal and external audit, procurement, and tax and domestic resource mobilisation. In 2011, the fund will finance eight programmes amounting to a total of USD2.5 million. These are for activities in the Republic of Congo, Ethiopia, Malawi, Mauritania, Senegal, South Sudan and Tunisia.
The Oversight Committee is composed of representatives of donors and the African Development Bank.