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

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.