The AU Peace Fund’s high-level resource mobilization event on July 20, 2024, saw massive commitments from several institutions, almost reaching the $400 million mark initially projected.
The African Union Peace Fund (AUPF) has reached an endowment of over $392 million, bringing it closer to its $400 million target, the AU reported.
At the AU Peace Fund’s high-level resource mobilization event on the sidelines of the 6th African Union Mid-Year Coordination Meeting (MYCM) in Accra, Ghana, several institutions, including Afreximbank, Standard Chartered Bank, Ethiopian Airlines, the African Development Bank and the Tony Elumelu Foundation, made commitments to support resource mobilization for peace in Africa.
The AU claims to have made significant progress in reducing its dependence and regaining its autonomy in the management of peace and security.
According to the pan-African institution, this is evidenced by the increase in member states’ contributions to the fund and
improvements in its governance and management.
The UPF is part of the African Peace and Security Architecture (APSA), alongside the Peace and Security Council (PSC), the African Standby Force, the Military Staff Committee, the Continental Early Warning System and the Panel of the Wise.
These structures work together to prevent, manage and resolve conflicts in Africa and to respond rapidly to crises.
However, the Peace Fund does not only finance peace support operations. It also enables the AU to finance mediation and preventive
diplomacy activities, support institutional preparedness and capacity, maintain a contingency reserve, and meet its commitment to finance 25 per cent of its peace operations budget.
AC/sf/lb/GIK/APA