The Board of Governors of Africa Solidarity Fund (ASF) strengthens its commitment to sustainable development during its third ordinary session in Abidjan
During its third ordinary session in Abidjan, Ivory Coast, the Council of Governors of Africa Solidarity Fund (ASF) marked a significant turning point. Under the chairmanship of Mrs. Nialé KABA, Minister of Economy, Planning and Development of Ivory Coast, a key moment of the Council was the signing of a letter of intent between ASF and Africa Development Bank (AfDB), strengthening their cooperation to maximize their impact in Africa. In addition, a financing agreement with Arab Bank for Economic Development in Africa (BADEA) was concluded, as part of the ASF capital increase aimed at supporting regional economic transformation. Mrs. Nialé KABA highlighted the ASF's ambition to become a solid pan-African institution by 2025, calling for strengthening its financial resources and expanding its shareholder base. Mr. Kobenan TANOH, Chairman of the Board of Directors, welcomed the successes recorded by the institution during the year 2023, its Baa1 rating and its ISO 9001:2015 certification. The Council approved the 2023 annual reports and welcomed Morocco and Sierra Leone as new Category A regional member states, bringing the capital of the FSA to 191.7 billion CFA francs. The next session will take place in Libreville, Gabon, in May 2025, highlighting the ASF's continued commitment to African development.
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