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Partnership on Illicit Finance Launch Event
Members of the Partnership on Illicit Finance (PIF) met alongside the African Development Bank at the Bank’s Annual Meetings in Lusaka, Zambia, to publish national action plans to combat illicit finance, review member countries’ priorities for addressing illicit finance stemming from corruption and other criminal activities, and share experiences with countries interested in joining the Partnership.
African Development Bank President Akinwumi Adesina voiced the institution’s strong support for the Partnership and encouraged other African countries to join current members Burkina Faso, Kenya, Liberia, Mauritius, Niger, Senegal, Sierra Leone, and the United States in developing national action plans to combat illicit finance.
Corruption and illicit finance in Africa continue to undermine democracy, constrain investment, reduce stability, thwart economic development, and disenfranchise African populations who should benefit from Africa’s tremendous growth potential.
Launched at the 2014 U.S.-Africa Leaders Summit and reaffirmed at the July 2015 Third International Financing for Development Conference, the Partnership brings together countries committed to tackling corruption and to developing strategies to eliminate opportunities for illicit finance.
Under the Partnership, countries are developing and implementing tailored national action plans to combat illicit finance. These plans will guide country-specific action to fight illicit finance stemming from corruption and other crimes, and will reinforce efforts to build developing countries’ capacity to mobilize domestic resources and attract private sector investment. Countries’ national action plans are being posted on the African Development Bank website at www.afdb.org/en/topics-and-sectors/initiatives-partnerships/partnership-on-illicit-finance/.