Partners of the African Development (AfDB) Bank have committed a record US$11 billion to recapitalise the African Development Fund (ADF), marking the largest replenishment in the Fund’s history.
The 17th replenishment, backed by 43 partners, represents a 23 per cent increase on the previous funding round. African countries pledged a combined US$182.7 million, with 19 nations contributing for the first time alongside long-standing regional supporters.
According to the Bank, every dollar channelled through the ADF is expected to mobilise more than US$2.50 in additional co-financing and private investment.
“This goes beyond a routine replenishment,” said AfDB Group president Dr Sidi Ould Tah. “At a time when development finance is under intense global pressure, our partners opted for boldness rather than retreat, and action instead of delay.”
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Key development finance institutions also announced sizeable commitments, including up to US$800 million from the Arab Bank for Economic Development in Africa (BADEA) and as much as US$2 billion from the OPEC Fund for International Development.
During a pledging meeting in London, partners approved a new financing framework that will enable the Fund to leverage its balance sheet, deploy innovative tools such as hybrid capital, and use concessional funding to absorb risk, attract private capital, and unlock large-scale investment across the continent.
