Finland reaffirmed its commitment to Africa's development during a visit to the African Development Bank's headquarters in Abidjan, Côte d'Ivoire on 23 January 2025. Led by Anna-Kaisa Heikkinen, the country's Director General for Africa, Middle East, and Latin America, a Finnish delegation met with Bank leaders to discuss deepening collaboration between the two entities, circular economy and ongoing preparations for the African Development Fund's 17th replenishment (ADF-17).
The Finnish delegation also included Ambassador Anu Saxén, Finland's envoy to Senegal, Côte d'Ivoire, and The Gambia; Krista Napola, Ministry for Foreign Affairs Director for West and North Africa; and other senior officials.
The Bank Group team was led by Dr Beth Dunford, Vice President for Agriculture, Human and Social Development. Also present were Mette Knudsen, the Bank Group's Executive Director for Denmark, Finland, India, Ireland, Norway and Sweden; Gauthier Bourland, Senior Director, Resource Mobilization and Partnerships Department and Special Advisor to the Bank President; Joy Kategekwa, Director of the Bank's Regional Integration Coordination Office and representatives from the Resource Mobilization and Partnerships Department, Regional Integration Coordination Office, Climate Change and Green Growth Department, and Operational Procurement Department.
Welcoming the visitors, Vice President Dunford praised Finland as a longstanding development partner for Africa and the Bank Group.
The discussions centered on Africa's key challenges and opportunities, regional economic integration under the African Continental Free Trade Area (AfCFTA), and Finland's contributions to sustainable development initiatives, including the Africa Circular Economy Facility (ACEF), of which it is a founding development partner.
Co-established with the Nordic Development Fund in 2022, the €4 million Africa Circular Economy Facility is a multi-donor grants trust fund hosted by the African Development Bank that works to mainstream the circular economy toward helping African countries meet Paris Agreement, Sustainable Development Goals and the African Union Agenda 2063 targets.
Heikkinen said, "The Bank's expertise, financing, and the comprehensive country-level presence in Africa are of great value. As a funder of the Africa Circular Economy Facility, Finland is especially happy to see circular economy fully mainstreamed into the Group's functions." In 2024, Finland doubled its contribution to ACEF by providing an additional €2 million.
Heikkinen also affirmed Finland's continued support for multilateral channels for development cooperation, and the importance of the country's partnership with the African Development Bank.
Scaling Impact Through ADF-17
During the meeting, Bourland and Kategekwa underscored the critical role of development partners in achieving ADF-17 targets. The African Development Fund, the Bank Group's concessional arm, supports 37 countries--both those transitioning into emerging markets and those that remain fragile and require targeted assistance for essential service delivery. ADF Replenishments occur every three years.
A successful replenishment is viewed as pivotal as Africa accelerates recovery from the economic impacts of COVID-19, climate change and global economic headwinds, and harnesses the potential of AfCFTA.
Finland provided €160 million in concessional donor loans over the ADF-15 and ADF-16 replenishment cycles. This commitment reflects its dedication to addressing critical priorities such as bridging connectivity gaps, expanding infrastructure, and fostering industrialization.
Expanding Business Opportunities
The discussions also addressed ongoing Bank Group efforts to attract greater Finnish private sector investment into Africa. In September 2024, Business Finland, an official government agency for trade and investment promotion, organized an event in Helsinki that attracted more than 50 Finnish companies eager to explore Bank-funded projects in the critical minerals, technology, and circular economy sectors.
Bank leaders including Private Sector Development Director Aida Ngom, Infrastructure and Urban Development Director Mike Salawou, and Fiduciary and Financial Management Director Frank Mvula, encouraged Finland to leverage its expertise in sustainability and its partnerships to drive impactful development outcomes across the continent.
Strengthening Future Cooperation
The meeting concluded with a conversation on further opportunities to strengthen collaboration, with both sides emphasizing the importance of sustained engagement in addressing Africa's development priorities.
As the ADF-17 replenishment cycle progresses, Finland and the African Development Bank will continue working together to advance shared priorities and enhance the impact of concessional financing. The exchange reaffirmed Finland's commitment to multilateral development cooperation and the Bank's role as a key partner in fostering sustainable and inclusive growth across the continent.
