In 1977 the African Rural and Agricultural Credit Association (AFRACA) was created in response to a request made to the United Nations Food and Agriculture Organisation (FAO), during the 1975 World Food Conference. This request, was that FAO assist developing member countries establish Regional Agricultural Credit Associations (RACAs).
1/2  BIS central bankers' speeches  More broadly, the maintenance of financial stability necessarily requires considerable bilateral and multilateral collaboration across major central banks.