EU: Support of Rs 600 million for technical assistance centers in Africa

The EU and IMF have signed two agreements, Monday, October 17, for a total of Rs 600 million (14.6 million euros).This amount will fund two technical assistance centers set up by the IMF, namely the South and AFRITAC East AFRITAC.

The AFRITAC South was officially launched in Port-Louis on Monday by the IMF Deputy Managing Director, Min Zhu. It is intended to provide technical expertise to 13 countries in the region, including Mauritius.

AFRITAC South will be a technical assistance center for Southern Africa and Indian Ocean region. Three similar centers are currently operational in Africa, namely the West AFRITAC, the AFRITAC East and Central AFRITAC.

These regional centers of IMF technical assistance in Africa is widely regarded as models of efficiency for capacity building. They assist beneficiary countries in improving their financial governance and build effective institutions.

The South AFRITAC will include several experts in the field of taxation and provide the necessary expertise to these 13 countries to modernize their customs and in the collection of revenue, the debt management and reform tax.

The Deputy Director General was pleased to see further development of partnership relations with the EU, especially with regard to assistance to member countries of Southern and Eastern Africa.

"We have undertaken to extend the network of AFRITAC in response to the request of our African member countries, the work of building our centers that conduct is highly appreciated by the recipient countries. The EU contribution is a success story for Africa, "he added.

Alessandro Mariani, EU Ambassador Mauritius said that this funding is to contribute to the economic process in the region of the Southern and Eastern Africa and Indian Ocean.

"Having herself experienced the benefits of regional integration, the EU believes that it is a fundamental mechanism to promote growth and reduce poverty. We are pleased to launch this partnership with the IMF because it will help create a macroeconomic environment conducive to trade, investment and harmonization of policies between countries in the region, "said Alessandro Mariani.

Former Director of Customs Mauritius, Britain's Stephen Mendes, left his job at the Mauritius Revenue Authority last May to take the job at the AFRITAC South. He is a specialist advisor who will be the core countries of IMF technical assistance in this part of Africa.