The AREI will be led by Africans and strongly anchored in existing African political and decision-making processes. The Initiative will establish clear governing rules fully in line with the guiding principles and operations, monitoring and evaluation procedures.
These need to ensure that the Initiative remains fully Africa-led, and that all activities contributing to it – whether pursued through the Independent Delivery Unit and the AREI Trust Fund or directly through countries or other institutions – adhere to the AREI guiding principles. Monitoring and evaluation procedures must be established that correspond to the principle of African ownership, recognize the need for flexibility, and ensure efficient and transparent use of resources.
BOARD OF DIRECTORS
The Board of Directors shall be composed of at least nine members with seven Africans and two non-regional members.
The main role of the Board of Directors is to mobilize political support, provide strategic oversight and vision, ensure African leadership and ownership of the Initiative, set priorities, objectives and milestones, foster resource mobilization, and oversee the implementation of the project pipeline and the annual work plan.
The Technical Committee will be composed of high level experts with proven experience in the energy sector, in investment and development issues on the continent or in developing countries.
The main role of the Technical Committee is to define the initiative’s operational priorities and objectives, review and select submitted projects; oversee resource mobilization activities; ensure coherence with other initiatives; and recommend funding for supportive activities, incentives, and investments.
INDEPENDENT DELIVERY UNIT
The Independent Delivery Unit will be fully accountable to the Board of Directors. The delivery unit will be hosted by the AfDB and defined by specific arrangements between the hosting institution and the Board of Directors that will provide for the independence of the Independent Delivery Unit and ensure African leadership.
The main roles of the Independent Delivery Unit will be to provide a secretariat role for the Board and the Technical Committee, coordinate and prepare annual work plans, coordinate and conduct supporting activities across all clusters; coordinate and facilitate support and finance to accelerate implementation, design and manage grant application and assessment procedures in consultation with the Trustee; and communicate with stakeholders on behalf of the Initiative.
The main role of the Trustee – accountable to the Board of Directors – is to manage funds and investments; design and manage grant application and assessment procedures with the Independent Delivery Unit; ensure adherence with risk management and compliance procedures.
Detailed Terms of Reference for each of the above bodies will need to be further developed and elaborated.