The AFMI constitutes a truly development-oriented initiative that demands a large amount of financial resources for research, technical assistance and expert advice. AFMI is funded through the African Development Bank’s Administrative Budget, as well as, the Fund for African Private Sector Assistance and the Canadian International Development Agency.
The AFMI will spearhead a cooperative approach to African bond market development working together with governments including central banks, African regional associations, development partners and the private sector.
About the African Development Bank
The AfDB Group’s mission is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development. With this objective in mind, the institution aims at assisting African countries – individually and collectively - in their efforts to achieve sustainable economic development and social progress. Combating poverty is at the heart of the continent’s efforts to attain sustainable economic growth. To this end, the Bank seeks to stimulate and mobilize internal and external resources to promote investments as well as provide its regional member countries with technical and financial assistance.
About the Fund for African Private Sector Assistance (FAPA)
The Fund for African Private Sector Assistance (FAPA) is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support implementation of the Bank’s Private Sector Development Strategy. The Government of Japan, African Development Bank, the Austrian Development Bank and the Government of Austria are the contributors to the fund, which to date has provided USD 35 million to 42 projects across the African continent. The FAPA portfolio includes regional and national projects in sectors such as Business Enabling Environment, Financial Institutions Support, Infrastructure, Trade and Micro-, Small- and Medium- Enterprises. For further information on FAPA please contact FAPA@afdb.org
About the Canadian International Development Agency (CIDA)
The Canadian International Development Agency (CIDA) is Canada's lead agency for development assistance. CIDA's aim is to (i) manage Canada's support and resources effectively and accountably to achieve meaningful, sustainable results, and (ii) engage in policy development in Canada and internationally, enabling Canada's effort to realize its development objectives. The current Canada Technical Cooperation Agreement with AfDB was signed in 2008, committing CAD 5 million in untied CIDA grant fund to strengthen the AfDB’s institutional capacity as well as that of African countries to meet their development objectives. CAD 35 million has been provided for five Canadian Technical Assistance Fund Agreements since 1973. Priority areas are aligned with the AfDB’s Medium-Term Strategy: to support economic growth, good governance, regional economic integration, private sector development, greater integration and mainstreaming of environmental protection and gender equity. The bilateral fund is also helping to institutionalise the AfDB’s commitment to results-based management.
Other partners that support the AFMI website:
The Making Finance Work for Africa Partnership is an initiative to support the development of African Financial Sectors. The Partnership is a unique platform for African governments, the private sector, and development partners to coordinate financial sector development interventions across the continent, avoiding duplication and maximizing developmental impact.