In this year 2020, the implementation process of the Africa Territorial Agency, which is a financial cooperative institution to facilitate the access of African cities and local authorities to the financial market, is following its course. After the meeting of the members of the Agency’s founding club held in November 2019 in Durban (South Africa), the roadmap foresees for this year the holding of two general assemblies.
The first on “Approval of the economic model and risk assessment framework”. The second on “Approval of the institutional structure and internal rules”.
In view of these deadlines, two studies will be launched on the economic model and risk management. The results of these studies will make it possible to adopt the best model adapted to the realities of African cities and local authorities, taking into account the specificities of each region.
While waiting for these two deadlines, the ATA is being popularized among local authorities and UCLG Africa’s partners. This was the case in Abu Dhabi during the WUF. A working session was held with the African Development Bank (ADB), with whom collaboration on this issue has been underway since the beginning of the process. Notably, during the definition in 2019 of the “Readiness” program which was done with the support of the AfDB to prepare the first candidate communities for the loan, to strengthen their institutional capacities, improve the mobilization of own resources, ensure sound financial management and improve the quality of local public expenditure.
The working session was held in the presence of : Mr. Léandre Nzué, President of UCLG Africa, Mr. Jean Pierre ELong Mbassi, Secretary General of UCLG Africa, Mr. Amadou Oumarou, AfDB Director of Transport and ICT, Mr. Stephan Atchia, Manager of the AfDB Urban Division and Mr. François Paul Yatta, Director of Programmes of UCLG Africa.
As a reminder, the roadmap extends over the period 2019-2022, to reach the first issue and the first loan in 2022. Three key factors support this approach:
– To have cities and territories invested to convince the international financial community;
– Have a sequenced process to guarantee the solidity of the institutional and financial set-up;
– Have States and institutions to sponsor an innovative and ambitious approach.
More information on the Africa Territorial Agency (ATA) : see LEDNA Newsletter here.