Over the next three years, the African Renaissance Fund is expected to expend over R1 billion and this is provided for in our MTEF. How we align the work of the ARF with the new agency will be a matter for discussion and decision over the next few months. During the course of this year, the work of developing the agency will be taken forward by our department as lead department, working together with our sister departments. The details of its functions and modus operandi will be articulated more fully by the end of the financial year.