Abidjan, Côte d’Ivoire, 21th February 2021: The African Legal Support Facility (ALSF) and the Netherlands Ministry for Trade and Development Cooperation signed a financing agreement to extend € 6 million, to be disbursed over a 3-year period. With this additional funding, the ALSF can continue to provide technical legal assistance to African countries to strengthen their legal expertise and negotiating capacity in matters pertaining to debt management and litigation; natural resources and extractives management and contracting; and investment agreements and related commercial and business transactions.
Since 2013, the Netherlands has cumulatively provided € 15.5 million to support African countries to conclude equitable and sustainable contracts and achieve fair litigation outcomes to ensure maximum economic value of their resources. The funds provided by the Netherlands enabled the ALSF to successfully assist many African governments to strengthen their legal expertise and negotiating capacities, particularly in the areas of natural resources and extractives, investment agreements and Public Private Partnerships (PPPs), including large-scale infrastructure and other related complex commercial and business transactions, as well as negotiate sovereign debt transactions to prevent debt distress in the respective African states.
The ALSF Director Stephen Karangizi thanked the Netherlands for its strong support over the years. He said, “The assistance will help ALSF to better respond to the impacts of COVID-19 and help countries to recover much faster to enhance sustainable inclusive development in Africa”.
Created by the African Development Bank in 2010, the ALSF supports governments in negotiating complex commercial transactions, providing legal and technical assistance in public-private partnership projects across the oil and gas, mining and energy sectors, and covering sovereign debt issues and creditor litigation.
Eve Ehoura, Communication Officer : email@example.com
ALSF Website : https://www.aflsf.org