A delegation from the EU Global Facility arrived in Bonn, #Germany, to take part in an annual coordination meeting with the GIZ Illicit Financial Flows (IFF) Project.
Led by Team Leader David Hotte, the EU Global Facility is meeting with representatives from both projects, along with Expertise France and GIZ headquarters.
The primary objective of this meeting is to facilitate the exchange of updates and insights on the progress of the IFF and EU Global Facility projects. It shall also serve as an opportunity to review the plans for the upcoming months and explore potential areas for collaboration between the two initiatives.
One significant event on the agenda is the planned global consultations of Non-Profit Organisations (NPOs) in September 2023in Bonn. This consultation aims to address the ongoing reform of the FATF Recommendation 8 and its Best Practices Paper, representing a crucial milestone in their collective efforts to combat money laundering and terrorist financing in the not-for-profit sector.
The EU Global Facility and GIZ IFF projects have been maintaining regular contacts to ensure that their activities in regions of mutual interest, such as Africa and Latin America, do not overlap or duplicate efforts. By coordinating their efforts, they can streamline their impact and enhance effectiveness in tackling global financial challenges.
“As two projects implemented on behalf of the European Union, we strongly believe that regular interactions to discuss evolutions in the field of illicit financial flows can help foster innovation, create synergies, and strengthen our shared commitment to combating money laundering and terrorist financing,” stated David Hotte.
“Only through collaborative efforts can we succeed in addressing illicit financial flows and promoting financial integrity both within the EU and in partner countries across the globe.”
The meeting was hosted at the premises of GIZ, who is also a co-implementing agency of the EU Global Facility, alongside Expertise France and NI-CO.
This project is funded by the European Union.