The African Development Bank has secured a record $11 billion for its concessional financing window, marking the largest replenishment in the history of the African Development Fund. Backed by contributions from 43 partners, the milestone reflects renewed confidence in Africa’s long-term development prospects despite a challenging global funding climate. Notably, African countries themselves stepped up, with 23 nations pledging $182.7 million—five times more than the previous cycle and including 19 first-time contributors. The funds will support 37 low-income and fragile countries, focusing on energy access, food security, human capital development, regional trade, and resilient infrastructure. The bank says the scale and composition of the pledges signal a decisive shift toward shared responsibility and ambition.
Business Insider Africa
