The French parliament passed the French development aid reform, which created a mechanism for the restitution of the unjust gains of the foreign leaders.
The illegal property consists of assets such as luxury real estate, cars, yachts, watches and bank accounts, commodities, and public goods that have been embezzled for personal purposes by foreign leaders or their relatives.
If the Supreme Court upholds the conviction of Teodorin Obiang, Vice President of Equatorial Guinea, and the confiscation of his property in France on July 28, the mechanism will be implemented concretely for the first time.
Within the scope of the application, under the responsibility of the Ministry of Foreign Affairs, ‘cooperation and development actions on a case-by-case basis’ will be financed in the relevant countries through a specific budget that will be created by the sale of goods.
The mechanism in question will also fulfill President Emmanuel Macron‘s commitment to increase official development assistance to 0.55 percent of gross national income at the end of his five-year mandate, which will end in 2022.
Many non-governmental organizations in the country were demanding that the income from the seizure of ‘unjust gains’ by the French courts be returned to the relevant nations.