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The African Legal Support Facility (ALSF), an arm of the African Development Bank, AfDB, has secured a €6 million grant from the Netherlands Ministry for Trade and Development Cooperation.
ALSF will use the grant to support it’s legal and technical provisions to low-income countries that need support in commercial dealings.
ALSF Director Stephen Karangizi who showed gratitude to the Netherlands said that “the €6 million will help the facility to better respond to the impacts of COVID-19”. It will go into helping “countries to recover much faster to enhance sustainable, inclusive development in Africa”, Karangizi said
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The Netherlands is a shareholder of the AfDB and since 2013, it has cumulatively provided €15.5 million to the ALSF.
The ALSF has used these funds to achieve some of the primary purposes. One of the major objectives of the facility includes assisting African governments to strengthen their legal expertise and negotiating capacities and the funds have been channelled into these needs.
So far, it has accomplished 53 key commercial negotiations for contracts valued at $97.8 billion for African governments.
Its legal and technical assistance to the African governments also covers sovereign debt issues and creditor litigation. It also covers legal issues on public-private partnership projects across the oil and gas, mining and energy sectors.
The €6 million funding will be disbursed over a three-year period.
