EU Bolsters IMF Capacity-Building Initiative in Africa

The International Monetary Fund has received a fresh contribution of €14.6 million ($20.2 million) from the European Union for two of its Africa regional technical assistance centers, or AFRITACs.

AFRITACs boost efforts by beneficiary countries to improve financial governance, including debt and revenue management and tax administration, and build effective institutions.

The EU funding will be particularly for AFRITAC East and AFRITAC South, which IMF officially opened in Mauritius on Oct. 17.

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.