The European Commission and the African Union Commission Renew and Reinforce their agreement on Measures to Strengthen the Financial Management of the African Union Commission

The European Commission and the African Union Commission Renew and Reinforce their agreement on Measures to Strengthen the Financial Management of the African Union Commission

Wednesday, 31 May, 2017

DG DEVCO Deputy Director General Klaus Rudischhauser and AUC Deputy Chairperson Thomas Kwesi Quartey signed on 24th May at the AUC Headquarters  in Addis Ababa a new Aide Mémoire on measures to strengthen the financial management of the African Union Commission. The implementation of the Aide Mémoire will allow the AUC to align its financial management systems with international standards with a view to become compliant in all 7 pillars of the EU institutional assessment. The Commission will support AUC's efforts by providing further technical assistance, facilitating more exchanges of staff between both Organizations and by continuing the regular high level dialogues set-up one year ago to follow-up on this Aide Mémoire.

The EU is the AUC's main international partner by volume of aid provided. Since 2004, the EU has disbursed more than EUR € 2,4 billion for programmes managed by the AUC.