US$15m conflict prevention fund for West Africa

The African Development Bank (ADB) has proposed the creation of a conflict prevention fund for West Africa, to which it is willing to contribute US$15m. The initiative, to fund projects ranging from job creation for ex-combatants to micro-credit to help women left to head their households launch small businesses, was outlined to a meeting of UN officials in Abidjan, the commercial capital of Cote d'Ivoire, earlier this week. The ADB aims to create a fund from which relatively modest sums can be disbursed rapidly to support projects in the region that would help to prevent political tension degenerating into open conflict. It would also help countries in West Africa that are emerging from conflict to re-establish peace and stability. The fund would be made available for use in all 15 member countries of the Economic Community of West Africa (ECOWAS), but would limit its level of support to a maximum of $1m per project. Crucially however, the fund would be able to disburse money quickly and flexibly - within 14 days of conditions for the support of a project being met. According to a discussion paper distributed at the Abidjan meeting, the proposed Regional Peace and Development Fund would fill a gap between emergency response and long term development. The ADB said this is an area where until now it has been difficult to secure regular funding. The bank, which moved most of its headquarters functions from Abidjan to Tunis following the eruption of a civil war in Cote d'Ivoire last year, has recommended that the proposed fund be managed by a special unit under the auspices of the ECOWAS secretariat. The ADB is currently seeking partners willing to co-finance the initiative. One official at the UN meeting in Abidjan spoke of raising up to $60m.