The pledge was made on Monday, February 1, 2016, according to AU Peace and Security Council chief, Smail Chergui.

“Great results have been achieved and we must consolidate these gains. Boko Haram is no longer able to operate freely as in the past or control territories as they did,” he said.

“We are making tremendous progress in this battle, but we still need to remain vigilant, we need to share information and cooperate,” he added.

$110 million out of the funds will come from Nigeria while the European Union is expected to contribute 50 million euros.

Donations are expected from Britain and Switzerland as well.