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I want to begin by thanking you, Excellencies Heads of State and Government, for the strong support that you have provided throughout the institutional reform process. We have indeed come a long way since January 2017. A clear consensus has been forged around the need for an effective and self-sustaining African Union.

With respect to financing, the budget process is more transparent and the burden is more evenly shared among Member States. More than 150 million dollars have been contributed to the Peace Fund over the last three years and the Board of Trustees is now in place.