Prelims: International Relations (Institutions of global importance), Africa Club, African Union
Mains: General Studies-II Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests.
Why in the News ?
Recently, at the 37th African Union Summit member countries took the initiative of forming the Africa Club.
Source: DTE
📌 FYI on Prelims
- During the 37th African Union Summit, 2024 in Ethiopia, African heads of state unanimously agreed to a historic ban on the trade of donkey skin, thereby prohibiting the killing of donkeys across the continent for their hides.
- This is a significant outcome following the Dar es Salaam declaration adopted at the first African Union-Interafrican Bureau for Animal Resource (AU-IBAR) Pan-African Donkey Conference in December 2022.
About:
Africa Club
- It is the Alliance of African Multilateral Financial Institutions (which are African owned and controlled) launched at the African Union summit.
- The initiative aims to amplify Africa’s influence in the global financial system by aligning its functions with the SDGs and the African Union’s Agenda 2063.
- It seeks to introduce innovative financial instruments, provide a venue for debt management discussions and foster collaborative effort to address the specific needs of African countries.
- Its members include African Export Import Bank, Trade and Development Bank, Africa Finance Corporation, African Reinsurance Corporation, African Trade and Investment Development Insurance, Shelter Afrique Development Bank and ZEP – RE (PTA Reinsurance Co).
African Union
- It is a continental body consisting of the countries of the African Continent
- It was officially launched in 2002 as a successor to the Organisation of African Unity in Durban, South Africa.
- Member states: 55 nations of the African Continent
- Focus: It is to increase cooperation and integration of African states to drive Africa’s growth and economic development.
- Vision: An Integrated, Prosperous and Peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.
- Principal Organs: The Assembly of Heads of State and Government, the Executive Council, the Permanent Representatives Committee (PRC), the Peace and Security Council and The African Union Commission, Pan-African Parliament and the Economic, Social & Cultural Council (ECOSOCC).
