The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
The Facility shall be established as an independent institution, legally autonomous and liability-remote, though housed within the African development Bank. This would allow the ALSF to effectively assist members without endangering the neutrality of the Bank and would shield the Bank from any risk of liability. The Facility would have the legal status, privileges and immunities that would protect it from any potential retaliatory legal action. In respect of training and capacity building, the Facility will complement the work of the Bank’s Legal Services Department.
The institutional structure of the Facility shall consist of a Governing Council, a Management Board, and a Director. It is further recommended that the Facility should have a small staff initially comprising: the Director, five (5) professionals, as well as two (2) office administrators and a support staff.
The Governing Council will be made up of representatives of ALSF member states, the Bank, and other international organizations. Its functions will include determining and approving policy, appointing a Management Board, authorising replenishments of resources, and appointing external auditors.
The Management Board would be composed of five (5) persons appointed by the Governing Council. The Director would be an ex-officio member of the Management Board. The Management Board functions will include implementing such powers as shall be delegated to it by the Governing Council, approving the annual budgets and annual work programmes, issuing By-laws, regulations and rules for the Facility, and making decisions necessary to ensure the efficient and effective operations of the Facility, and overseeing the management of the Facility’s Endowment Fund.
The chief executive officer of the Facility shall be the Director who shall be appointed by the Management Board.The Director shall be responsible for the day-to-day administration of the Facility and shall appoint the staff of the Facility, submit independently-audited financial reports to the Management Board and the Governing Council, and represent the Facility externally.
The professional staff recruited by the Facility will be experienced in financial and commercial negotiations and litigation and will have demonstrated an interest in the advancement of RMCs as well as an ability to work with government officials from African countries. An appropriate code of conduct would guide the staff of the Facility.