The Africa Union (AU) on Thursday in Addis Ababa, Ethiopia appointed Minister of Finance, Mrs Zainab Ahmed as chairperson of the Board of Trustees of the AU Peace Fund.
The board has five African members each representing a region and two Non-African Members (United Nations and European Union) as International partners. The Minister of Finance is representing the Western African Sub-region in the Board.
The Peace Fund is an independent international fund for the prevention and management of conflicts, and the promotion of peace in Africa.
The Board of Trustees was established by the Assembly of the Union in July 2016 to ensure strategic coherence, enhanced governance, and financial and administrative oversight of the Peace Fund.
The protocol relating to the African Union Peace and Security Council (PSC) provide for the establishment of a special fund to be known as the Peace Fund with the objective of providing the necessary financial resources for peace support missions and other operational activities relating to peace and security in Africa
The Peace Fund will finance three key priorities: mediation and preventive diplomacy activities, institutional capacity requirements, and peace support operations.