Asset Recovery Watch

ARW-16
Angolagate
Unspecified
Switzerland
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location / Alleged Asset Location
2000
2012
Art.16, Art.23
Yes
Other
Unknown
Unknown
A monitoring solution for repatriated assets, involving Swiss bilateral aid channels was agreed upon with the administrative costs and fiduciary responsibilities borne by the Swiss Agency for Development and Cooperation (SDC) and implementation unit comprised of SDC and Angolan representatives (Source: Ann Lugon-Moulin, "Asset Recovery: Concrete Challenges for Development Assistance," in Mark Pieth, ed., Recovering Stolen Assets (Peter Lang, 2008).
Completed
Assets Returned to Victim or Requesting Jurisdiction
$64,000,000
Yes
Agreement between Angola and Switzerland for returned funds to be allocated to humanitarian projects in Angola; eligible projects include reconstruction, health and sanitation units, improvement of public utilitites and assistance to displaced populations. Monitoring to be undertaken by the Swiss Development and Co-operation Agency (which is part of the Swiss Ministry of Foreign Affairs). (Source: Paul Gully-Hart, "International asset recovery of corruption-related assets: Switzerland," in Mark Pieth, ed., Recovering Stolen Assets (2008). SHP Programme website, www.psh-angola.net - projects to date: $4.2 million for vocational training in two provinces and mine clearance project.)
On December 17, 2012, the Swiss Federal Department of Foreign Affairs announced that Switzerland and Angola signed an agreement, whereby Switzerland will return $43 million (SFr39.5 million) in frozen assets to Angola. According to the press release from the Swiss Agency for Development and Cooperation, the backdrop to the restitution are judicial proceedings of the Geneva judicial authorities regarding alleged money laundering, which at the end of 2008 led to the confiscation of the assets now to be restituted. The money will be used to fund development projects that directly benefit the population of Angola. (Source: Swiss Agency for Development and Cooperation Press Release, December 17, 2012.)  According to the terms of the agreement, Switzerland and Angola will implement the agreement jointly. The Swiss Agency for Development and Cooperation (SDC) will be responsible for its implementation on behalf of Switzerland, and the funds will benefit similar purposes as the first asset return. (Source:  Gretta Fenner Zinkernagel and Kodjo Attisso, International Centre for Asset Recovery, “Returning Stolen Assets - Learning from past practice: Selected case studies” [2013]).    In 2005, Switzerland and Angola signed an agreement to return $21 million to Angola. The funds were allocated to humanitarian projects in Angola, and monitored by the Swiss Development and Co-operation Agency (which is part of the Swiss Ministry of Foreign Affairs). Eligible projects include reconstruction, health and sanitation units, improvement of public utilities and assistance to displaced populations. (Source: Paul Gully Hart, "International asset recovery of corruption-related assets: Switzerland," in Mark Pieth ed., Recovering Stolen Assets (2008). According to the Social and Humanitarian Programme's website, $4.2 million had been allocated for vocational training in two provinces and other (unspecified) sums for a mine clearance project and agricultural development. (Source: SHP Programme, "The reached results so far," accessed at http://www.psh-angola.net/en/Home/Projects.). Please see also, Swiss Federal Department of Foreign Affairs, "Angolan-Swiss Socio-humanitarian Programme (SHP): Priorities," at http://www.ddc.admin.ch/en/Home/Countries/Eastern_and_Central_Africa/Ang...

According to the press release by the Swiss Agency for Development and Cooperation, unspecified "criminal proceedings initiated by the Geneva judicial authorities were done so in connection with the restructuring of the Angolan debt to the Russian Federation.:  (Source:  Swiss Agency for Development and Cooperation, "Switzerland and Angola sign agreement on the return of Angolan funds currently blocked in Switzerland to benefit humanitarian projects," November 1, 2005, accessed at http://www.deza.admin.ch/en/Home/News/Close_up?itemID=21008.)

Geneva Judicial Authorities
Geneva Judicial Authorities
Geneva Judicial Authorities