The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has secured US $11 billion from 43 Partners for its 17th Replenishment.
- •The pledged amount, a 23% increase over the previous replenishment, is the largest in the Fund’s history.
- •A total of $182.7 million was pledged by African countries, with 19 countries contributing for the first time, alongside long-standing regional contributors.
- •Each dollar invested through the Fund unlocks more than $2.50 in co-financing and private capital.
“This is not just a replenishment,” said Dr Sidi Ould Tah, President of the African Development Bank Group. “It is a turning point. In one of the most difficult global environments for development finance, our partners chose ambition over retrenchment, and investment over inertia.”
Development finance partners announced major commitments, including: up to $800 million from the Arab Bank for Economic Development in Africa (BADEA); and up to $2 billion from the OPEC Fund for International Development.
At a pledging session in London, the fund's partners endorsed a new financial model that allows the fund to leverage its balance sheet, deploy innovative instruments, including hybrid capital, and use concessional finance strategically to absorb risk, crowd in private capital, and catalyse investment at scale.
