Establishment and administration of the buffer fund for ECA-sponsored Regional and Subregional Institutions

Abstract

The Second Conference of Chief Executives formally established the Buffer Fund to advance moneys to ECA-sponsored regional and sub regional institutions to tide them, over temporary periods of financial difficulty. The Chief Executives further decided that their institutions should set the example in self-reliance by making initial contributions to the Buffer Fund which in turn, would also induce governments and donor organizations to contribute to the fund. In its resolution 451(XVTI), the 8th meeting of the ECA Conference of Ministers expressed its appreciation with regard to the establishment of the Buffer Fund, noted that, in the spirit of self reliance, the ECA-sponsored regional and sub regional institutions themselves were to make initial contributions to the Buffer Fund and made an appeal to all African governments and institutions to make pledges during the fourth and subsequent Pledging Conferences of African Plenipotentiaries and Institutions for the purposes of augmenting the Buffer Fund.