This partnership will demonstrate to the wider multilateral and international development financing system the need, benefits, potential and practicality of Peace Finance approaches on the continent and beyond. “This strong collaboration between the AfDB and Interpeace affirms our joint commitment to catalyse private and public capital to work for a more inclusive, equitable and peaceful world. ![]() “Interpeace is delighted to formalise our partnership with the African Development Bank through this MoU”, said Elhadj As Sy. “The Finance for Peace Initiative, implemented by Interpeace, and supported by Germany, complements the Bank’s own efforts in this space, as it aims to develop protocols and pilots around peace finance, including for a peace bond asset class,” Akin-Olugbade said. The initiative also aims to offset the fiscal implications of elevated security sector spending. “The African Development Bank is pioneering these efforts through the Security-Indexed Investment Bond (SIIB) Initiative, endorsed at the AU Heads of State Summit in February 2022,” she told participants, adding that the proposed bonds aim to raise additional financing at scale, including through capital markets, to mitigate structural drivers of violence and conflict. The ceremony was attended by Ambassador Deike Potzel, Director General for Crisis Prevention, Stabilisation, Peacebuilding and Humanitarian Assistance, at the German Federal Foreign Office which supports Interpeace’s Finance for Peace initiative.Īkin-Olugbade highlighted the importance of pursuing innovative approaches to support peace and security on the continent. The MoU was signed by the Bank’s Vice-President for Regional Development, Integration and Business Delivery, Marie-Laure Akin-Olugbade, and a member of Interpeace’s governing board, Elhadj As Sy. The signing ceremony took place during the Africa Resilience Forum currently which opened on Tuesday 03 October in the Ivorian commercial capital Abidjan. The memorandum of understanding is accompanied by a practical work plan with goals and outcome targets, underscoring the innovative partnership between Africa’s premier development finance institution and the Finance for Peace Initiative by Interpeace. The African Development Bank and Interpeace, an international organisation for peacebuilding based in Switzerland, today signed a memorandum of understanding to jointly promote economic investment and social development that positively impacts peace. ![]() ![]()
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