During the 37th African Union Summit in Addis Ababa (Ethiopia), the member countries announced the launch of “Alliance of African Multilateral Financial Institutions” or ‘Africa Club’.
- It aims to amplify Africa’s influence in the global financial system by aligning its functions with the SDGs and the African Union’s Agenda 2063.
- It seeks to introduce innovative financial instruments, provide a venue for debt management discussions and foster collaborative effort to address the specific needs of African countries.
- Its members include African Export Import Bank, Trade and Development Bank, Africa Finance Corporation, African Reinsurance Corporation, African Trade and Investment Development Insurance, Shelter Afrique Development Bank and ZEP – RE (PTA Reinsurance Co).
