African Development Fund Replenished With U.S. $9.5 Billion

22 October 2010
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African Development Bank (Abidjan)
press release

Donors concluded negotiations of the Twelfth Replenishment of the African Development Fund (ADF-12), the concessional window of the African Development Bank (AfDB) Group that provides grants and concessional loans to Africa's low income countries. They agreed on a replenishment level of USD 9.5 billion for the ADF over the next three years (2011-2013), a 10.6 percent increase in donor contributions over ADF-11.

In concluding the ADF-12 negotiations, donors strongly endorsed the ongoing institutional reforms and the strengthened results focus of the AfDB Group, and the effectiveness and delivery capacity of the ADF. They also noted the critical role that the ADF is playing in low income countries in Africa.

The AfDB Group President, Donald Kaberuka, noted: "I applaud the effort made by many donors to replenish the African Development Fund in spite of the tough fiscal position in many countries. It is a signal of confidence in the Fund/Bank and we will do our best to deploy these resources optimally in the agreed priority areas".

The strategic thrust of ADF-12 is to support economic growth, with a strong focus on accounting for medium and long-term results, in Africa's low-income countries. Priority areas of operational engagement include public sector investments in infrastructure, governance and regional integration, with additional support going to fragile states. Particular attention will be given to mainstreaming climate change adaptation and mitigation measures in all operations. Given the need for deepening regional economic integration and accelerating private sector development on the continent, the AfDB Group will scale up investments in these areas from both its concessional and non-concessional windows over the next three years.

Notes to Editors

The ADF is part of the African Development Bank Group, the premier development finance institution in Africa. The ADF provides concessional resources to invest in development projects and programs in low income African countries, and its resources are replenished by donors every three years. The meeting in Tunis was the conclusion of negotiations for the Twelfth Replenishment of the ADF (ADF-12) covering the period 2011-2013 It was attended by representatives from donors to the ADF and representatives of African borrower countries.

State donors to the ADF are Argentina, Austria, Belgium, Brazil, Canada, China, Denmark, Egypt, Finland, France, Germany, India, Italy, Japan, Korea, Kuwait, the Netherlands, Norway, Portugal, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, the United Arab Emirates, the United Kingdom and the United States of America.

ADF recipient countries were represented in the negotiations by delegates from Burkina Faso, the Democratic Republic of Congo, Liberia and Uganda.

Contacts

Ralph Olayé

Read the original article on African Development Bank (AfDB).

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