Canada Fund for Africa

The Canada Fund for Africa (CFA) was a program operated by the government of Canada through the Canadian International Development Agency (CIDA). Established in June 2002 with a budget of five hundred million dollars, its stated purpose was to support the G8 Africa Action Plan in response to priorities established in the New Partnership for Africa's Development (NEPAD).^[1] The fund officially ended on March 31, 2008. As of 2010, all but one of its targeted projects have been completed.^[2]

The Fund was established by the Canada Fund for Africa Act in 2002 to fulfill Canada's obligations under the New Africa Initiative created be the Organization of African Unity.^[3]

Government records indicate that one million dollars of the fund was spent on public-private ventures for providing risk capital. HIV/AIDS research and development, polio eradication, and the oversight of water and sanitation each received fifty million dollars.^[4]

The fund ran from 2002 to 2007, investing in pan-African and African regional investments, with a goal to leverage additional outside financing. Major results of the CFA included the African Water Facility and NEPAD Infrastructure Project Preparation Facility. Approximately 74% of funding flowed to the agricultural, water, environmental or health categories of the fund, with the remainder flowing to governance, security, trade, infrastructure, and communications technology portfolios.^[5]

The program was complemented by the Canada Investment Fund for Africa, which instead of funding government projects, funded private investment in Africa.^[6] The United Nations notes that funding under these two programs supported many initiatives, with those most likely to be supported by the Canada Fund for Africa being $220 million on polio and HIV, and $150 million on humanitarian food aid and water resources.^[7] It is not guaranteed that all these programs were funded directly by the CFA, and may include Canada Investment Fund for Africa contributions or leveraged contributions.

External links

• Canada Fund for Africa