African Union Establishes Peace Fund
November 17, 2018 - The African Union (AU) established peace fund called the African Union Peace Fund, according to FBC report. The fund was officially launched in Addis Ababa today.
The peace fund is meant to establish and develop a mechanism of self-financing African peace and security activities.
The peace fund was launched with a budget of 100 million USD.
Speaking at a ceremony, the current Chairperson of the AU, President Paul Kagame said "promoting peace and security is the core function of the AU Commission; the establishment of the AU Peace Fund is critically important to finance the Commission’s peace supporting operations sustainably and effectively."
Chairperson of the AU Commission, Moussa Faki Mahamat said that, in line with the reforms underway, an important step has been taken which would help the continent to be self-reliant in funding peace activities.
During the launching ceremony, it was disclosed that the Fund will have board of directors and a manager and will start with the budget of 100 million US dollars.
Five Board of Trustees were chosen to represents the 5 regions of the continent, namely, Elene Makonnen (Ethiopia), Zainab Ahmed (Nigeria), Kamel Morjane (Tunisia), Mrs. Tito Mboweni (South Africa) and Anicet Dologuele (CAR).