A motion for the establishment of a trust fund for the Pan-African Parliament moved by Hon. Peter Daka, Chairperson of the permanent committee on Monetary and Fiscal Affairs during a parliamentary sitting of the Third Ordinary Session of The Pan-African Parliament in April this year aims to act on a resolution taken by the Parliament for supplementary funding.
In his motion, Hon. Daka stated that the establishment of the trust fund would enable the Pan-African Parliament to complement efforts of Member States contributions thereby increasing and enhancing the Pan-African Parliament oversight roles. “This Trust fund will enable the continental body to function effectively and mobilise funds worldwide. A trust fund is an acceptable vehicle for the sourcing of funds, By having a trust, the founders feel comfortable as it allows them to have a say in the management of the trust fund.” said Hon. Daka.
Hon. Daka explained that the Pan-African Parliament was an engine for economic, political and social integration of the people of Africa . Without proper lubrication of the engine, the process of integration may stall and the people would not see the real benefits of belonging to this important institution. The Pan-African Parliament can only dispense its mandate properly if it has adequate financial resources and in order to achieve this there needs to be mechanisms put in place to help execute activities with ease.
It is the view of the Committee that the Trust Fund will go a long way in promoting good governance, transparency and democracy, peace security and stability, gender equality and development in the integration of African people within Africa and other nations. It will also support the fight against HIV/AIDS, hunger and poverty on the continent