THE HAGUE, 02/06/06 - Development Cooperation Minister Agnes van Ardenne is investing 15 million euros in the next three years in a fund for supporting African countries in improving their business climate.

The project is called the Investment Climate Facility for Africa (ICF). It envisages improving customs procedures among other things. These are often complicated and time-consuming in African countries. "It also sometimes takes companies in Africa years to get an ownership certificate for a piece of land or a building."

The new fund was called into being yesterday during the World Economic Forum in South Africa. It is intended for the 24 African countries affiliated to the Partnership for the Development of Africa (NEPAD).

As well as the Netherlands, the other donors are the UK (30 million dollars), the World Bank (30 million) and Ireland (2 million). Additionally, companies Shell, Unilever and Anglo American are each putting up 2.5 million dollars.