The Capital Markets Development Trust Fund, managed by the African Development Bank Group, has announced a call for proposals under its 2025 Annual Budget & Work Program.
The Call for proposals targets initiatives that promote infrastructure modernization, stakeholder engagement, regulatory reforms, capacity-building, and product diversification to strengthen financial markets across Africa.
The Trust Fund works to promote the development of African capital markets and enhance access to capital alignment with the African Development Bank's broader mission to mobilize resources through domestic financial markets and advance its High 5 operational priorities. The CMDTF is part of the African Development Bank's Financial Sector Development Department
With $4.8 million available, the call is open to entities based in the African Development Bank regional member countries, with funding covering the 2025-2028 period. The deadline for submission is 16 May 2025 at 23:59 GMT. Eligible entities include stock exchanges, capital markets authorities and other regulatory bodies, central banks, Government Ministries (including those responsible for Finance and regional integration) and regional and continental entities, including Regional Economic Communities.
Approximately 30% of financing will go to strengthening regulatory and legal frameworks, while 20% will support the modernization of capital markets infrastructure, such as upgrading stock exchanges and bond auction platforms. A further 30% will target the diversification of products and services, including green bonds, asset-backed securities, and SME capital markets instruments, while 20% aims at broadening the investor base by enhancing African capital markets' compliance with offshore jurisdictions, improving data transparency, and building institutional capacity among investors and banks.
Additionally, CMDTF will support knowledge dissemination through flagship publications and the organization of knowledge events.
APPLICATION PROCEDURES
- Complete the attached application form (available in French or English)
- Queries or clarifications may be sent via email to [email protected]; [email protected]; [email protected] with "[Country/Region] CMDTF Call for proposals 2025" in the subject line
- Submit completed applications via email to: [email protected]; [email protected]; [email protected]; with [email protected] and [email protected] in copy. The subject should read: [Country/Region] - CMDTF Call for proposals 2025
- Proposals may be submitted in English or French.
REVIEW AND EVALUATION OF PROPOSALS
- Applications will be evaluated based on alignment with the Fund's objectives and priorities. Further details are available at www.afdb.org/cmdtf.
- Shortlisted applicants may be contacted for additional information
- All applicants will be notified of the selection results within three months of the submission deadline
- Please note that applying does not guarantee that the project will be selected for financing
CMDTF operations are funded by the Netherlands' Ministry for Foreign Trade and Development Cooperation, the Ministry of Finance of Luxembourg, and the Swedish International Development Cooperation Agency.
