Gaborone, 13 June 2022 (TDI): The Committee of Ministers of Finance (F15) of the African Union is currently holding a meeting in Gaborone, Botswana from 13-14 June 2022.
The meeting on Financing the African Union is taking place under the theme: Beyond COVID-19 pandemic and Russia-Ukraine Conflict; Enhancing the Resilience of African Economies and Financial Sustainability of the African Union.
The African Union requires reliable and predictable resources to implement its programs. These programs in turn help the Union achieve its development and integration goals.
Budget and financial reforms are an important part of achieving the African Union (AU)’s Agenda 2063. For this reason, the Assembly has established a committee of fifteen Ministers of Finance commonly known as F15.
These Ministers meet twice a year and take stock of the implementation of the Assembly and Council Decisions on funding the African Union.
F15 MEETING AND EXPECTED OUTCOMES
The Committee of Ministers will review the emerging national, continental as well as global policy issues. The Ministers will also examine AU’s financial sustainability in light of the current emerging policy issues.
They will also discuss the effect of COVID-19 and the Russia-Ukraine War on the capacity of member countries to honor financial obligations.
Among the attendees of this High-level Meeting who are participating are officials from the AU Envoy of financial reforms, the African Development Bank (AfDB), and the UN Economic Commission for Africa.
Some experts who are attending the meeting are from the African Union Commission, the African Union Permanent Representatives Committee, and many more.
The implementation of the decision on financing the African Union looks to reduce dependence on foreign resources and reliable and predictable revenues from states and partners.
Aside from that, its objective is to facilitate equitable burden-sharing of the budget among member states along with improving accountability as well as efficient management of resources.
