G8 Kananaskis Africa Action Plan

Sectors : Quality of aid, Debt relief, Aid volume, Economic governance and public finance management, Political governance
Organisation : G8
Date made: 
2002
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Commitments in: Financing for Development - Quality of aid

“III. Fostering Trade, Investment, Economic Growth and Sustainable Development...

...we commit to...

3.6 Improving the effectiveness of Official Development Assistance (ODA), and strengthening ODA commitments for enhanced-partnership countries – including by:
• Ensuring effective implementation of the OECD/DAC recommendations on untying aid to the Least Developed Countries;

• Implementing effectively the OECD agreement to ensure that export credit support to low income countries is not used for unproductive purposes;

• Supporting efforts within the DAC to reduce aid management burdens on recipient countries and lower the transactions costs of aid;

• Taking all necessary steps to implement the pledges we made at Monterrey, including ODA level increases and aid effectiveness; and,

• Reviewing annually, within the DAC and in coordination with all relevant institutions, our progress towards the achievement in Africa of the Development Goals contained in the United Nations Millennium Declaration.”

Scope: 
Africa

Commitments in: Financing for Development - Debt relief

“...IV. Implementing Debt Relief...

...4.1 Our aim is to assist countries through the Heavily Indebted Poor Countries (HIPC) Initiative to reduce poverty by enabling them to exit the HIPC process with a sustainable level of debt. The HIPC Initiative will reduce, by US$19 billion (net present value terms), the debt of some 22 African countries that are following sound economic policies and good governance. Combined with traditional debt relief and additional bilateral debt forgiveness, this represents a reduction of some US$30 billion – about two-thirds of their total debt burden – that will allow an important shift of resources towards education, health and other social and productive uses.

4.2. ...We are committed to seeing that the projected shortfall in the HIPC Trust Fund is fully financed. Moreover, we remain ready, as necessary, to provide additional debt relief – so-called “topping up” – on a case-by-case basis, to countries that have suffered a fundamental change in their economic circumstances due to extraordinary external shocks…We will fund our share of the shortfall in the HIPC Initiative, recognizing that this shortfall could be up to US$1 billion...”

Scope: 
Africa

Commitments in: Financing for Development - Aid volume

“...9. In support of this strong international consensus, substantial new development assistance commitments were announced at Monterrey. By 2006, these new commitments will increase ODA by a total of US$12 billion per year…Assuming strong African policy commitments, and given recent assistance trends, we believe that in aggregate half or more of our new development assistance could be directed to African nations that govern justly, invest in their own people and promote economic freedom. In this way we will support the objectives of the NEPAD...

...10. We will pursue this Action Plan in our individual and collective capacities, and through the international institutions to which we belong…We will take the necessary steps to ensure the effective implementation of our Action Plan and will review progress at our next Summit based on a final report from our Personal Representatives for Africa.”

Scope: 
Africa

Commitments in: Governance - Economic governance and public finance management

“II. Strengthening Institutions and Governance

...we commit to...
...2.2 Strengthening capacity-building programmes related to economic and corporate governance in Africa focusing on the NEPAD priority areas of implementing sound macro-economic strategies, strengthening public financial management and accountability, protecting the integrity of monetary and financial systems, strengthening accounting and auditing systems, and developing an effective corporate governance framework – including by:

• Supporting international and African organizations such as the African Capacity Building Foundation (ACBF) and the African Regional Technical Assistance Centres (AFRITACs) initiative of the International Monetary Fund (IMF) in expanding regionally-oriented technical assistance and capacity-building programmes in Africa; and,

• Financing African-led research on economic governance issues (through the United Nations Economic Commission for Africa (ECA), sub-regional and regional organizations, and other African institutions and organizations with relevant expertise).”

Scope: 
Africa

Commitments in: Governance - Political governance

“II. Strengthening Institutions and Governance

...we commit to...
...2.1 Supporting the NEPAD’s priority political governance objectives – including by:
• Expanding capacity-building programmes related to political governance in Africa focusing on the NEPAD priority areas of: improving administrative and civil services, strengthening parliamentary oversight, promoting participatory decision-making, and judicial reform;

• Supporting African efforts to ensure that electoral processes are credible and transparent, and that elections are conducted in a manner that is free and fair and in accordance with the NEPAD’s commitment to uphold and respect “global standards of democracy;

• Supporting African efforts to involve parliamentarians and civil society in all aspects of the NEPAD process; and,

• Supporting the reform of the security sector through assisting the development of an independent judiciary and democratically controlled police structures."

Scope: 
Africa