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The initiative, known as the Regional Capacity Development Project on Anti-Money Laundering and Countering the Financing of Terrorism (ESCAD-AML), will benefit five ESAAMLG member states, including Burundi, Eritrea, Mozambique, South Sudan, and Madagascar.
The African Development Bank (AfDB) and the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have signed a USD 5.2 million three-year regional project to strengthen capacity in combating money laundering and terrorist financing.
The initiative, known as the Regional Capacity Development Project on Anti-Money Laundering and Countering the Financing of Terrorism (ESCAD-AML), will benefit five ESAAMLG member states, including Burundi, Eritrea, Mozambique, South Sudan, and Madagascar.
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Funded by the AfDB, the project seeks to enhance the capacity of selected transition countries in Eastern and Southern Africa to combat money laundering (ML), terrorism financing (TF), and illicit financial flows (IFFs). It also aims to address structural fragility while creating opportunities to build long-term resilience.
