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.
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.