Framework Administered Account for Selected Fund Activities - African Development Bank Subaccount for Selected Fund Activities

Author: International Monetary Fund

Volume/Issue: Volume 2011 Issue 040

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Banks and Banking , Taxation - General , PP , Liberia Macro-Fiscal Subaccount , finance Subaccount , resources of the Subaccount , financing , terms and conditions of the Subaccount , management of the Subaccount , General government spending , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Tax administration core functions , Investment banking , Project loans , Middle East , Central America , West Africa , East Africa , Africa

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Summary

In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for Selected Fund Activities (the "SFA Instrument"). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the African Development Bank (the “AfDB”) Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument.