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Monday, July 15, 2024

Minister Underlines Need to Rethink AU Financing Model

Minister of Economy and Finance, Nadia Fettah, underlined, Monday in Rabat, the need to rethink the financing model of the African Union (AU).

“Rethinking the financing model of our Union is urgently needed if we want to stay focused on the objective that we have set out since 2015 in Johannesburg, for sustainable, predictable, equitable and responsible funding of the African Union,” said Fettah at the opening of the high-level meeting of the committee of fifteen Ministers of Finance (F15) of the African Union.

Beyond its direct impact on African economies, the current crisis, due to its unparalleled scale and unpredictable duration, “could call into question the financial viability of our large institutional family, the African Union”, she pointed out.

The F15 high-level meeting opened Monday in Rabat on the theme “Beyond COVID-19 pandemic and Russia-Ukraine Conflict: Enhancing the Resilience of African Economies and Financial Sustainability of the African Union”.

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