The African Development Fund Raises $8.9 billion for Low-income Nations in Africa.

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The African Development Fund’s (ADF) development partners have agreed to contribute a total of $8.9 billion to the financing cycle from 2023 to 2025. The Fund has never had a replenishment this size.

The $8.9 billion replenishment package consists of $429 million for the recently established Climate Action Window in addition to $8.5 billion for the core ADF budget. First-time contributions to the Fund came from Algeria and Morocco.

The Fund is having a significant impact; just in the last five years, it has assisted in providing access to electricity for 15.5 million people, improved agriculture for 74 million people, and water and sanitation for 42 million people. Twenty million people will benefit from the connection to electricity, and 24 million people will also gain.

AFDB

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