Partnership on Illicit Finance

The Partnership on Illicit Finance (PIF) was established during the U.S-Africa Leaders Summit in July 2014 to combat illicit finance and the damage it causes to the people of Africa.

Illicit finance is draining Africa's resources, perpetuating aid-dependency and undermining the ability of Africa to craft a development agenda that reflects its realities and priorities. The human and physical investments needed for Africa's transformation require addressing illicit finance as a priority.

The objective of PIF is to:

  • (i) Examine and Make Recommendations Concerning Illicit Financial Activities in Africa: The Partnership members will continue to examine reliable sources to better understand the range and scope of corruption and other unlawful activities related to illicit financial activities in Africa. Based on this work, the working group created inside PIF will continue to identify recommended actions to help prevent and respond to these types of illegal activities. These recommendations will be largely focused on further strengthening and prioritizing the implementation of existing international standards or commitments established by the African Union, United Nations, G-7, G-20, Financial Action Task Force (FATF), and other relevant groups.
  • (ii) Develop Individual Action Plans: Participating countries have committed to publishing national action plans that articulate a number of country-specific pledges that, when taken, will help prevent the generation and movement of proceeds from corruption and other crimes. Each government has committed to consult with the private sector and civil society to forge these country-specific, action-oriented commitments.
  • (iii) Implementation and Monitoring: Participating countries have also expressed interest in regularly assessing their progress towards implementation or fulfillment of these pledges, and updating their action plans accordingly.

As of November 2016, members of PIF include Burkina Faso, Côte d’Ivoire, Kenya, Liberia, Mauritius, Niger, Senegal, Sierra Leone, and the United States.

The African Development Bank Group supports the partnership.