The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group (www. AfDB.org), 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.
“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.”
Africa steps forward as a co-investor in its own future
For the first time in the Fund’s history, 23 African countries have made unprecedented contributions to their own concessional financing window.
A total of $182.7 million was pledged by African countries, with 19 countries contributing for the first time, alongside longstanding regional contributors. This represents a five-fold increase compared to the previous replenishment.
“This is not symbolic,” Dr Ould Tah said. “This is transformational. Africa is no longer only a beneficiary of concessional finance. Africa is a co-investor in its own future.”
From aid to investment: a new financial era for concessional finance.
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