[wanabidii] Africa: International award recognizes innovative use of development aid in Africa

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PRESS RELEASE

 

International award recognizes innovative use of development aid in Africa

 

MARRAKECH, Morocco, May 31, 2013/ -- The African Guarantee Fund (AGF), which was established as part of the Danish Africa Commission in 2008, was last night awarded the African Banker Awards 2013 in the category of “Financial Inclusion”. The prize was awarded during the annual meeting of the African Development Bank (http://www.afdb.org/en/annual-meetings) in Marrakech, Morocco. The award is an important acknowledgment of the key role that small and medium-sized enterprises play in fostering growth in Africa and of the potential of public-private partnerships.

 

Photo Donald Kaberuka: http://www.photos.apo-opa.com/plog-content/images/apo/photos/donald-kaberuka-afdb-president.jpg

 

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/african-development-bank-2.png

 

The President of the African Development Bank, Donald Kaberuka states:

 

“The AGF has only been operational for a year but is already showing good results. I am pleased that AGF has been given this award by the African banking community. Access to finance continues to be a major obstacle for financial sector development in Africa. It is paramount that we support small and medium-size enterprises to release the full potential for fostering inclusive growth, job creation and economic development in Africa.”

 

The Danish Minister for Development Cooperation, Christian Friis Bach, welcomes the award:

 

“I am very pleased to see this international recognition of the African Guarantee Fund that was established on recommendation of the Danish Africa Commission, which I had the pleasure to serve on. In a time of economic crisis and recession I believe we increasingly have to think in new partnerships to address development challenges in the 21st century. The AGF is an example of such a new and innovative approach. With the AGF we use development assistance as a catalyst for private sector growth while at the same time promoting social progress and job creation in Africa”.

 

Distributed by the African Press Organization on behalf of the African Development Bank (AfDB).

 

Background:

The African Guarantee Fund was established by Denmark in partnership with the African Development Bank and the Government of Spain following the recommendations of the Danish Africa Commission of 2008. The aim of the AGF is to foster inclusive economic growth and job creation. The AGF targets the many small and medium-sized enterprises in Africa, which play key roles in terms of job creation and output, yet their opportunities for doing business are often hampered by lack of access to finance.

 

The African Banker Awards Committee is composed of the editorial team of African Business and African Banker magazine and it benefits from the expertise of leading organisations and industry figures with an in-depth knowledge of the African business landscape: http://www.ic-events.net/awards/african_banker_awards_2013/06judges.php

 

SOURCE 

African Development Bank (AfDB)

 

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[wanabidii] Transforming Africa's Trade Finance Industry: What Next?

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Transforming Africa’s Trade Finance Industry: What Next?

 

MARRAKECH, Morocco, May 31, 2013/ -- On the margins of the African Development Bank Group (AfDB) (http://www.afdb.org) 48th Annual Meetings, in a side event gathered on May 29th 2013, Trade Finance (TF) leaders and practitioners met to exchange views on their perspectives of the trade finance industry in Africa.  TF contributes positively to private sector development, at the core of Africa’s Structural Transformation, and inclusive growth. Indeed, by meeting investment and working capital needs of real sector enterprises and by preventing supply shortages, Trade Finance ensures a continuity of operations, fosters growth in turnover and employment creation.

 

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/african-development-bank-2.png

 

The AfDB’s Board of Directors approved on February 20th, 2013 the AfDB Trade Finance Program (TFP).  This marked the establishment of a full-fledged in-house trade finance program, consolidating the Bank’s role as a provider of trade finance. The program seeks to complement contributions from the commercial players and Multilateral Development Banks involved in Trade Finance in Africa while addressing the critical market demand for TF in the region by supporting trade in vital economic sectors.  The program will require the collaborative effort of various stakeholders, including regional Development Finance Institutions, and local and international financial institutions.  As such, the AfDB needs to widely communicate the importance of the Bank’s intention to all TF stakeholders in Africa, including the Governors of Central Banks, Development Finance Institutions, local and international financial institutions, and TF beneficiaries. Following the approval of the program by the AfDB Board, five transactions totaling US$520 million have been processed, of which two are risk participation agreements  signed this week with Standard Chartered Bank and Commerzbank for which the AfDB is contributing, respectively, US$ 200 million and US$100 million to be matched by these two partners.

 

The trade finance side event brought together industry leaders and market participants to discuss the current market context and future of TF in Africa.  The participants explored the way forward on bolstering intra-African trade, its challenges and possible solutions, shared lessons learnt from other markets and how local banks and Small and Medium Enterprises can create a winning formula for access trade finance. They also discussed the role of regional development banks and commercial players in supporting trade finance.  The side event provided a unique platform for the launch of the newly established TFP and highlighted its broad objectives.

 

Marc Auboin, Economic Counsellor in charge of trade and finance, and international economic policy coherence at the World Trade Organization (WTO), one of the panelists of the side event, said historically, trade assets  have low default rates, thus placing them firmly in the category of low risk assets. African trade instruments are no exception.

 

Distributed by the African Press Organization on behalf of the African Development Bank (AfDB).

 

 

Contacts:      

Onike Nicol-Houra, Principal Business Development Officer, T. +216 71 10 32 27 / C. +216 97 96 87 06/ o.nicol@afdb.org

Y.Kuffour, Lead Trade Finance Specialist Manager, T. +216 71 10 22 85/ C. +216 98 70 29 41 / y.kuffour@afdb.org

 

SOURCE 

African Development Bank (AfDB)

 

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[wanabidii] Saif Al Islam Gaddafi: ICC Pre-Trial Chamber I rejects Libyan challenge to the admissibility of the case against Saif Al Islam Gaddafi

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ICC Pre-Trial Chamber I rejects Libyan challenge to the admissibility of the case against Saif Al Islam Gaddafi

 

THE HAGUE, Netherland, May 31, 2013/ -- Today, 31 May 2013, the Pre-Trial Chamber I of the International Criminal Court (ICC) (http://www.icc-cpi.int) rejected the challenge to the admissibility of the case against Saif Al Islam Gaddafi suspected of crimes against humanity of murder and persecution, allegedly committed in Libya from 15 February 2011 until at least 28 February 2011. The Chamber reminded Libya of its obligation to surrender the suspect to the Court. The Libyan authorities may appeal this decision or submit another challenge to the admissibility in accordance with article 19(4) of the Rome Statute.

 

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/cpi-1.jpg

 

A challenge to the admissibility of the case is granted if the case is being investigated by a State which has jurisdiction over it, unless the State is unwilling or unable genuinely to carry out the investigation or prosecution. The challenge to the admissibility of the case against Mr. Gaddafi was submitted by Libya on 1 May 2012 and the Chamber conducted an assessment of the evidence presented by the parties and the participants.

 

The Chamber concluded that it has not been sufficiently demonstrated that the domestic investigation cover the same case that is before the Court.

 

In addition, the Chamber recognized Libya’s significant efforts to rebuild institutions and to restore the rule of law. The Chamber, however, stressed that the Libyan State continues to face substantial difficulties in exercising fully its judicial powers across the entire territory. Namely, the Libyan authorities have not been able to secure the transfer of Mr Gaddafi into State custody and impediments remain to obtain the necessary evidence, and secure legal representation for Mr Gaddafi.

 

Pre-Trial Chamber I is composed of Judges Silvia Fernandez de Gurmendi, Presiding, Hans-Peter Kaul, and Christine Van den Wyngaert.

 

Distributed by the African Press Organization on behalf of the International Criminal Court.

 

 

Summary of the decision (http://www.icc-cpi.int/en_menus/icc/situations%20and%20cases/situations/icc0111/related%20cases/icc01110111/Documents/Summary-of-the-Decision-on-the-admissibility-of-the-case-against-Mr-Gaddafi.pdf ) (also available in Arabic: http://www.icc-cpi.int/en_menus/icc/situations%20and%20cases/situations/icc0111/related%20cases/icc01110111/Documents/Summary-of-the-Decision-on-the-admissibility-of-the-case-against-Mr-Gaddafi-Ara.pdf)

 

Decision on the challenge to the admissibility of the case against Saif Al Islam Gaddafi: http://www.icc-cpi.int/EN_Menus/icc/situations%20and%20cases/situations/icc0111/related%20cases/icc01110111/court%20records/chambers/pretrial%20chamber%20i/pages/344.aspx

 

ICC Audio-visual programme, “News from the Court”: English (http://www.youtube.com/watch?v=r8YA_8C3OyA) – Arabic (http://www.youtube.com/watch?v=b0gEUPil_ss) ; and for download: MP4 (English: http://www.fileserver.icc-cpi.info/video/News_from_the_Court_Libya_English.mp4 – Arabic: http://www.fileserver.icc-cpi.info/video/News_from_the_Court_Libya_Arabic.mp4) and MP3 (English: http://www.fileserver.icc-cpi.info/audio/News_from_the_Court_Libya_English.mp3 – Arabic: http://www.fileserver.icc-cpi.info/audio/News_from_the_Court_Libya_Arabic.mp3).

 

More information on this case, please click here: http://www.icc-cpi.int/en_menus/icc/situations%20and%20cases/situations/icc0111/related%20cases/icc01110111/Pages/icc01110111.aspx.

 

For further information, please contact Fadi El Abdallah, Spokesperson and Head of Public Affairs Unit, International Criminal Court, by telephone at: +31 (0)70 515-9152 or +31 (0)6 46448938 or by e-mail at: fadi.el-abdallah@icc-cpi.int.

 

You can also follow the Court’s activities on YouTube (http://www.youtube.com/IntlCriminalCourt) and Twitter (http://twitter.com/IntlCrimCourt)

 

SOURCE 

International Criminal Court (ICC)

 

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