Multinational - Regional Capacity Development Project for Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Combatting the Financing of Terrorism (AML/CFT)

The Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) is a Financial Action Task Force (FATF) Style Regional Body (FSRB) established in 1999. It currently consists of 21 member countries and one observer member. Its main objective is to promote and assess the effective implementation of anti-money laundering and combating the financing of terrorism (AML/CFT) and proliferation financing standards within its member countries’ jurisdictions in line with the FATF international standards. This Project will address fragility drivers and support the implementation of the resilience strategies in the selected transition countries. The Bank has provided similar support to ten GIABA member countries under the Capacity Development Project on Anti-Money Laundering and Combating the Financing of Terrorism in West Africa Transition States and in South Sudan under the Institution Support Project for Strengthening Economic Governance in South Sudan (ISP-SEG). Therefore, this operation will complement these previous Bank efforts, especially that of South Sudan. Moreover, due to competing priorities in these countries such as food security, water, infrastructure, energy, ML/TF & IFF issues are usually not prioritized when allocating budgetary resources even though they are recognized as important. High levels of fragility have seen limited participation from other TA providers in these countries. The Bank’s intervention will create regional synergies and provide a response to AML/CFT challenges in the targeted countries including the financial, human and technical capacity necessary to support the countries in developing and building more efficient and effective AML/CFT and CIFF regimes.