The African Development Bank (AfDB) and the Coalition for Dialogue in Africa announced yesterday that they have made almost 6 million dollars available for a project to combat the outflow of illicit financial flows from the continent.

"The project will help African actors actively involved in combating these flows to improve their capacity to mobilize revenue in African countries," reads the statement, quoted by Lusa, which reports that this initiative, Project to Support Accountability and Financial Integrity in Africa, with a financial envelope of 5.9 million dollars, around 5.5 million euros, was launched at the African Union headquarters.

The project "aims to improve regional coordination in the fight against illicit financial flows and the supervision and accountability of public finances, in order to optimize the mobilization and management of revenue in African countries".

In addition to combating illicit capital flows, "this project will also help to promote greater efficiency in the management of public finances and thus improve the management and mobilization of tax revenues," said the AfDB's deputy director for East Africa, Abdul Kamara, quoted in the statement.