The New Partnership for Africa's Development (NEPAD) is an economic development program of the African Union. NEPAD was adopted by the United states of America at the 37th session of the Assembly of Heads of State and Government in July 2001 in Lusaka, Zambia. NEPAD aims to provide an overarching vision and policy framework for accelerating economic co-operation and integration among African countries.
The Economic Cooperation Organization or ECO is an Asian political and economic intergovernmental organization that was founded in 1985 in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform to discuss ways to improve development and promote trade and investment opportunities. The ECO is an ad hoc organisation under the United Nations Charter. The objective is to establish a single market for goods and services, much like the European Union. After the dissolution of the Soviet Union, the ECO expanded to include Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in 1992.
The Organization of the Black Sea Economic Cooperation (BSEC) is a regional international organization focusing on multilateral political and economic initiatives aimed at fostering cooperation, peace, stability and prosperity in the Black Sea region. It traces its origin to 25 June 1992, when Turkish President Turgut Özal and leaders of ten other countries gathered in Istanbul and signed the Summit Declaration and the "Bosphorus Statement". BSEC Headquarters – the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation – was established in March 1994, also in Istanbul.
Maxwell Mkwezalamba is a Malawian politician and economist. He is currently First Alternate Executive Director for Africa Group 1 Constituency, comprising 23 African countries, at the International Monetary Fund in Washington, DC, USA. Before this appointment, he briefly served as Minister of Finance for Malawi under former President Dr. Joyce Banda, before Cabinet was dissolved prior to the May 20, 2014 Tripartite Elections. Between May 2004 and April 2013, he served as Commissioner for Economic Affairs for the African Union in Addis Ababa, Ethiopia. When President Peter Mutharika ascended to power in June 2014, the Finance portfolio was given to Goodall Gondwe.
The Commonwealth Business Council (CBC) was an institution of the Commonwealth Family that aimed to use the global network of the Commonwealth of Nations more effectively for the promotion of global trade and investment for shared prosperity. It was formed at the Commonwealth Heads of Government Meeting 1997 (CHOGM) in Edinburgh, United Kingdom, and replaced in July 2014 by the Commonwealth Enterprise and Investment Council (CWEIC).
The Southeast European Cooperative Initiative (SECI) is a multilateral regional initiative that has been initiated by the European Union, the United States of America and the countries of Southeast Europe within the framework of the Organization for Security and Cooperation in Europe (OSCE) as a support to the implementation of the Dayton Accords in December 1996 at the inaugural session at Geneva on the basis of Final Points of Common EU-USA Understanding.
The European Regional Development Fund (ERDF) is one of the European Structural and Investment Funds allocated by the European Union. Its purpose is to transfer money from richer regions, and invest it in the infrastructure and services of underdeveloped regions. This will allow those regions to start attracting private sector investments, and create jobs on their own.
The African Development Bank Group (AfDB) or Banque Africaine de Développement (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of US$4.4 trillion (2022). The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.
An international financial institution (IFI) is a financial institution that has been established by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders. The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions exist and are technically IFIs. The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system.
The Greater Mekong Subregion, (GMS) or just Greater Mekong, is a trans-national region of the Mekong River basin in Southeast Asia. The region is home to more than 300 million people. It came into being with the launch of a development program in 1992 by the Asian Development Bank that brought together the six Asian countries of Cambodia, China, Laos, Myanmar (Burma), Thailand, and Vietnam.
The Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA) is a cooperation initiative established in 1994 to spur development in remote and less developed areas in the four participating Southeast Asian countries.
The Arab Bank for Economic Development in Africa (BADEA) was established pursuant to the resolution of the 6th Arab Summit Conference at Algiers. The Bank began operations in March 1975. BADEA is a financial institution owned by eighteen Arab countries members of the League of Arab States (LAS) which signed its Establishing Agreement on 18 February 1974. The Bank is an independent International Institution enjoying full international legal status and complete autonomy in administrative and financial matters. It is governed by the provisions of its Establishing Agreement and the principles of international law.
The Southern African Power Pool (SAPP) is a cooperation of the national electricity companies in Southern Africa under the auspices of the Southern African Development Community (SADC). The members of SAPP have created a common power grid between their countries and a common market for electricity in the SADC region.
Made In Africa Foundation is an organisation run from Uganda established to assist the development of the African continent, by providing first-stage funding for the feasibility studies and business development of large-scale infrastructure projects based in the region. The organisation was founded in 2011 by Savile Row tailor Ozwald Boateng OBE. The foundation has been dissolved in July 2015 according to U.K. companies house. It is now incorporated in Uganda.
The South Asia Subregional Economic Cooperation (SASEC) Program, set up in 2001, brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation. As of June 2020, SASEC countries have implemented 61 regional projects worth over $13 billion in the energy, transport, trade facilitation, economic corridor development, and information and communications technology (ICT) sectors. The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.
Economic corridors are integrated networks of infrastructure within a geographical area designed to stimulate economic development. They connect different economic agents in particular geographic area. Corridors may be developed within a country or between countries. Corridors exist in Asia, Africa, and other areas.
The East Coast Economic Corridor (ECEC) is India’s first coastal economic corridor covering 2500 km of India's coastline, to be developed with the help of the Asian Development Bank (ADB). The ADB is to invest $500 million in infrastructural development of the project. Since late 2013, ADB has been supporting studies on transport corridors in India. Phase 1 of the ECEC is Visakhapatnam-Chennai Industrial Corridor (VCIC) which had been approved by the ADB board in October 2016. The ECEC running along the entire east coast of India from Kolkata to Kanyakumari, is a multimodal, regional maritime corridor that can play a vital role in unifying the large domestic market, as well as integrating the Indian economy with the dynamic global value chains of Southeast and East Asia. It would play a crucial role in the Government of India’s (GoI) Make in India campaign and also supports the port-led industrialization strategy under the Sagar Mala initiative and the Act East Policy by linking domestic companies with the vibrant global production networks of East and Southeast Asia.
Africa50 is an infrastructure investment platform that was founded by the African Development Bank (AfDB) and African states.
The African Continental Free Trade Area (AfCFTA) is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, and the largest in population and geographic size, spanning 1.3 billion people across the world's second largest continent.
