West Africa launches anti-money laundering program

The African Development Bank and the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) have launched a joint program to support the fight against money laundering and terrorist financing in member countries.

Report informs via Ecofin agency that the program is designed for three years, its budget is $5 million. The main goal of the program is to improve the economic and social sustainability of the West African region. Particular attention will be paid to countries with low income levels.

GIABA, which brings together 16 countries in the region, is a specialized service of the Economic Community of West African States (ECOWAS).