African Development Bank To Host Policy Dialogue On Combating Illicit Financial Flows In Natural Resources Sector

(MENAFN- Caribbean News Global) AFRICA – The African Development Bank, partnering with the Government of the Central African Republic, will convene a four-day training workshop and policy dialogue to address Illicit Financial Flows (IFFs) and Resource-Backed Loans (RBLs) in the natural resources sector.

This event is part of the bank's Governing Natural Resource Outflows for Enhanced Economic Resilience (GONAT) project, which aims to strengthen domestic resource mobilization and economic resilience across six African countries: the Central African Republic, Chad, the Democratic Republic of the Congo, Mozambique, Sierra Leone, and Zimbabwe.

The technical training sessions, scheduled for June 10-12, will help build the capacity of Central African Republic government officials to effectively monitor, analyze, and govern natural resource sectors. The sessions will engage senior policymakers, the private sector, civil society organizations, and local communities to share knowledge and develop policy solutions.

The three-day training will cover:

• Definitions and frameworks for IFFs;
• Key enablers, drivers, and socio-economic impacts of IFFs;
• Tools for measuring IFFs and assessing associated risks;
• Policy responses and legislative solutions;
• Institutional capacity building and strengthening.

A high-level policy dialogue will follow on June 13, bringing stakeholders together to discuss actionable recommendations, promote national dialogue and multi-stakeholder engagement, and establish communities of practice to support project implementation.

Illicit financial flows remain a significant barrier to sustainable economic development in resource-rich African nations. This event marks a crucial step in developing the regional capacity necessary to address these challenges through coordinated responses.

The post African Development Bank to host policy dialogue on Combating Illicit Financial Flows in Natural Resources Sector appeared first on Caribbean News Global .

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