The African Legal Support Facility (ALSF) and KfW Development Bank have signed an agreement to extend a €4 million grant from the Federal Republic of Germany through KfW to the Facility. This assistance builds on a 2016 Memorandum of Understanding between the two institutions under which ALSF was given a grant of €5 million.
This financial assistance will support ALSF's interventions to strengthen legal capacities for complex contract negotiations in Africa. In so doing, this will help African countries achieve fairer contracts, mainly in the extractives industry, infrastructure development and public private partnerships. The aim is to increase financial and inclusive non-financial benefits for African states and enhance the involvement of African experts in negotiation of complex commercial transactions.
Furthermore, with KfW's support, the Facility will undertake activities to facilitate the implementation of the Code of Conduct of the G7 CONNEX Initiative as a way of ensuring ethical, independent and high quality legal advice.
Thomas Duve, KfW's Director for Regional Funds and Stephen Karangizi, Director of the ALSF signed the financing agreement on 12 December, 2018.
"We are excited about our partnership and recognize the value and role of the ALSF as an instrument for risk mitigation" said Thomas Duve. "The ALSF's focus on operational activities will help it better respond to the needs of African governments" he noted.
Karangizi, thanked KfW for its strong support. He said, "this assistance will significantly contribute to the delivery of our Medium Term Strategy (2018-2022). It will help us to continue to level the legal playing field among parties to negotiations and contribute to an enhanced and sustainable economic and inclusive growth in Africa."
About ALSF
The African Legal Support Facility is an international organization hosted by the African Development Bank Group. The Facility is dedicated to providing legal advice and technical assistance to African countries in their negotiation of complex commercial transactions, creditor litigation and other related sovereign transactions. The ALSF also develops and proposes innovative tools for capacity building and knowledge management.
Contact: Timothy Wasswa Kabugo, African Legal Support Facility, t.wasswa@afdb.org
About the African Development Bank Group
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank, the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states.
