African Development Fund Key to strengthening Africa’s resilience - Deputy Finance Minister

President of the African Development Bank Group, Sidi Ould Tah, welcomed what he described as a unanimous show of interest by African nations to contribute to ADF-17. He noted that both the number of contributing countries and the size of their pledges have more than tripled, calling the development unprecedented.

According to him, the strong response sends a powerful message that Africa is no longer only a beneficiary of the Fund but is increasingly investing in its own development.

The African Development Fund, the concessional financing arm of the Bank Group, plays a critical role in supporting transformative projects in the continent’s most vulnerable countries. It provides highly concessional financing for investments in infrastructure, agriculture, energy, water, health and education—often on terms unavailable through traditional financial markets.

Despite fiscal pressures, both development partners and African countries have sustained and, in some cases, increased their support for the Fund.

Participating in his first ADF replenishment cycle as Bank Group President, Dr Ould Tah highlighted the catalytic impact of concessional financing when combined with private sector mobilisation.

He stressed that ADF-17 is about investment rather than aid, noting that every dollar invested in the Fund leverages more than US$2.50 in co-financing and private capital.

ADF-17 also marks a shift toward a new financing approach aligned with Dr Ould Tah’s “Four Cardinal Points” agenda, which focuses on expanding access to capital, restoring Africa’s financial sovereignty, harnessing the continent’s demographic potential and delivering resilient infrastructure. He described the replenishment as the starting point of a renewed future for the Fund.

The United Kingdom’s Minister of State for International Development, Baroness Jenny Chapman of Darlington, whose country is co-hosting the meeting with Ghana, reaffirmed the UK’s commitment to supporting the African Development Fund.

Ghana’s Deputy Minister of Finance, Thomas Nyarko Amprem, described the Fund as a strategic tool for reducing vulnerability across the continent and urged donor countries and partners to scale up their contributions.

President of the Arab Bank for Economic Development in Africa (BADEA), Abdullah Almusalbeeh, highlighted the strong alignment between BADEA and the African Development Bank Group, announcing plans to begin co-financing cooperation with the ADF.

Chairman of the Board of Governors of the African Development Bank Group and Congo’s Minister of Economy, Planning and Regional Integration, Ludovic Ngatsé, commended the achievements of ADF-16 and called for increased contributions to ADF-17. He said additional capital would ensure the Fund has long-term resources to address Africa’s development challenges.

Earlier, President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, noted the strong partnership between EBRD and the African Development Bank Group. The EBRD is hosting the meeting at its headquarters in London.

Established in 1972, the African Development Fund is financed through contributions from donor and participating countries in three-year replenishment cycles.