African Development Fund mobilises a historic $11 billion, marking a new era of African ownership and investment-led development
Cote Dlvoire, Dec. 16 -- The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has secured a record $11 billion from 43 Partners for its 17th Replenishment (ADF-17), the largest in the Fund's history, despite severe global fiscal constraints and declining aid budgets.The outcome represents a 23% increase over the previous replenishment and sends a clear signal of confidence in Africa's development prospects, the African Development Bank Group's leadership, and a new development model centred on investment, risk-sharing, and scale. Africa steps forward as a co-investor in its own futureFor the first time in the Fund's history, 23 African countries have made unprecedented contributions to th...
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