AU, EU sign Financing Agreement for new Africa Peace Facility
February 3, 2009 report from Xinhua (ADDIS ABABA):
The African Union (AU) and the European Union (EU) has signed during the 12th AU summit the Financing Agreement for the new Africa Peace Facility (APF) which amounts to 384 million U.S. dollars, according to the AU's website.
The AU Commissioner for Peace and Security Ramtane Lamamra and Director General for Development of the EU Stefano Manservisi on Monday signed the agreement, which will amount to 300 million euros (384 million dollars) and will cover the period 2008-2010.
It will include an Early Response Mechanism, which will strengthen the flexibility and rapidity of the APF response, according to the website statement.
The launch of the new APF is a major deliverable of the Partnership on Peace and Security, as provided for under the Lisbon Joint Strategy. It will provide funding for Africa-led Peace Support operations and will support the African Peace and Security Architecture as well as the EU-Africa dialogue on peace and security.
A number of Africa-led peace support operations, including the AU operations in Sudan, in Somalia and the peace support operations of the Economic Community of Central African States in Central Africa Republic, have been supported by the APF.
In addition, an ambitious capacity building program for the AU and the Regional Mechanisms for Conflict Prevention, Management and Resolution is underway as part of the capacity building component of the APF.