ACBF GRANTS US$ 2 MILLION TO SUPPORT THE MACROECONOMIC, DEBT AND FINANCIAL MANAGEMENT (PALOP) INSTITUTE IN PORTUGUESE SPEAKING AFRICAN COUNTRIES
On December 5, 2006, the African Capacity Building Foundation (ACBF) signed a Grant Agreement of US$ 2 million with the delegation from the Governments of of Angola, Cape Verde, Guinea Bissau, Mozambique, and Sao Tomé and Principe, led by the Ambassador of the Republic of Angola to Zimbabwe, H.E. Joaquim Augusto de Lemos. The Grant, to be disbursed over a four-year period, will support the Macroeconomic and Financial Management Institute for the Portuguese speaking Countries in Africa (PALOP). The regional project aims at developing and strengthening the capacity of the Portuguese speaking African countries to improve their macroeconomic and financial management.
In his opening speech, Dr. Soumana Sako, ACBF Executive Secretary, highlighted the centrality of sound macroeconomic and financial management for sustainable development and growth in Africa. He noted that since 2000, ACBF has been providing support to individual PALOP Governments, and that the current project would take the existing collaboration a step further. In line with the Foundation’s on-going efforts in this area, Dr. Sako indicated that the grant would assist in the establishment of the PALOP institute, and the building of the Institute’s human and institutional capacity in the specific area of macroeconomic, financial and debt management. Finally, he expressed the hope that the financial support would enable PALOP countries to make good use of the debt relief granted to them through the various schemes, including HIPC and Multilateral Debt Relief Initiative (MDRI), which would free resources for the building of their capacities for poverty reduction.
Speaking at the signing ceremony, His Excellency Joaquim Augusto de Lemos, Ambassador of the Republic of Angola, thanked ACBF for the financial support on behalf his Government and the PALOP countries. He stated that the grant would further cooperation and fraternity among the PALOP countries, which share similar heritage, culture and language. He assured that the grant, which is a form of development assistance, would enable the PALOP countries to persuade other donors and development partners to support them in their efforts to promote peace, good governance and poverty reduction.
The PALOP project was designed by ACBF at the request of the Governments of the five Portuguese-speaking countries. The project, which will be based in Angola, is expected to produce highly competent professionals to meet skills requirement for sound macroeconomic and financial management in the PALOP countries. In so doing, the project will contribute to enhance the capacity of the countries to design, internalize and manage the on-going economic reforms for poverty reduction.
segunda-feira, 22 de janeiro de 2007
ACBF GRANTS US$ 2 MILLION TO SUPPORT THE MACROECONOMIC, DEBT AND FINANCIAL MANAGEMENT (PALOP) INSTITUTE IN PORTUGUESE SPEAKING AFRICAN COUNTRIES
ACBF GRANTS US$ 2 MILLION TO SUPPORT THE MACROECONOMIC, DEBT AND FINANCIAL MANAGEMENT (PALOP) INSTITUTE IN PORTUGUESE SPEAKING AFRICAN COUNTRIES
On December 5, 2006, the African Capacity Building Foundation (ACBF) signed a Grant Agreement of US$ 2 million with the delegation from the Governments of of Angola, Cape Verde, Guinea Bissau, Mozambique, and Sao Tomé and Principe, led by the Ambassador of the Republic of Angola to Zimbabwe, H.E. Joaquim Augusto de Lemos. The Grant, to be disbursed over a four-year period, will support the Macroeconomic and Financial Management Institute for the Portuguese speaking Countries in Africa (PALOP). The regional project aims at developing and strengthening the capacity of the Portuguese speaking African countries to improve their macroeconomic and financial management.
In his opening speech, Dr. Soumana Sako, ACBF Executive Secretary, highlighted the centrality of sound macroeconomic and financial management for sustainable development and growth in Africa. He noted that since 2000, ACBF has been providing support to individual PALOP Governments, and that the current project would take the existing collaboration a step further. In line with the Foundation’s on-going efforts in this area, Dr. Sako indicated that the grant would assist in the establishment of the PALOP institute, and the building of the Institute’s human and institutional capacity in the specific area of macroeconomic, financial and debt management. Finally, he expressed the hope that the financial support would enable PALOP countries to make good use of the debt relief granted to them through the various schemes, including HIPC and Multilateral Debt Relief Initiative (MDRI), which would free resources for the building of their capacities for poverty reduction.
Speaking at the signing ceremony, His Excellency Joaquim Augusto de Lemos, Ambassador of the Republic of Angola, thanked ACBF for the financial support on behalf his Government and the PALOP countries. He stated that the grant would further cooperation and fraternity among the PALOP countries, which share similar heritage, culture and language. He assured that the grant, which is a form of development assistance, would enable the PALOP countries to persuade other donors and development partners to support them in their efforts to promote peace, good governance and poverty reduction.
The PALOP project was designed by ACBF at the request of the Governments of the five Portuguese-speaking countries. The project, which will be based in Angola, is expected to produce highly competent professionals to meet skills requirement for sound macroeconomic and financial management in the PALOP countries. In so doing, the project will contribute to enhance the capacity of the countries to design, internalize and manage the on-going economic reforms for poverty reduction.
