African Development Fund (ADF) has committed $7.6 billion for 37 African low-income, fragile, countries.
In a statement, ADF says that this is the fifteenth replenishment of the ADF (ADF-15), up 32% from the previous cycle. The Fund comprises 32 contributing states with resources replenished every three years with ADF-15 covering the period 2020-2022.
Furthermore, it benefits 37 countries; those experiencing higher growth rates, headed towards new emerging markets, and fragile states needing special support for basic service delivery.
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Akinwumi Adesina, President of the African Development Bank said that ADF-15 will support African countries to tackle issues on gender, climate change, governance, private sector development, and decent job creation.
Moreover, ADF-15 will focus on two Strategic Pillars: quality and sustainable infrastructure aimed at strengthening regional integration; and human governance and institutional capacity development for increased decent job creation and inclusive growth.
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