African nations are uniting to advocate for a substantial replenishment of the African Development Fund (ADF), targeting an ambitious goal of $25 billion to support transformative projects across the continent.
Sudan has recently amplified its pledge, committing $3 million to the fund. This gesture was highlighted by Sudan’s Finance and Economic Planning Minister, Dr. Gebreil Ibrahim Mohamed Fediel, during a high-profile meeting with Sierra Leonean Finance Minister Sheku Ahmed Fantamadi Bangura, Gambian Finance Minister Seedy Keita, Liberia’s Minister of Agriculture Dr. Alexander Nuatah, and African Development Bank (AfDB) President Akinwumi Adesina. The meeting, held alongside the World Bank and International Monetary Fund’s (IMF) annual meetings in Washington, DC, underscored Africa’s determination to secure essential resources for sustainable development.
The African Development Fund, as the concessional financing arm of the AfDB, has been instrumental in supporting the continent’s least economically developed regions, especially through projects aimed at infrastructure and energy connectivity. With this momentum, Sudan joins nations like the Gambia, Liberia, and Sierra Leone in backing the AfDB’s proposal for the $25 billion replenishment.
These countries, along with Ghana, previously pledged a minimum of $1 million each for the fund’s 17th replenishment, scheduled for 2025. Their unified stance emphasizes the importance of the ADF in helping African countries bridge financial gaps and address pressing development challenges.
AfDB President Akinwumi Adesina praised Sudan’s commitment, calling it “an incredible show of solidarity,” especially given Sudan’s own financial constraints. He commended the country for honoring its financial commitments despite facing significant economic challenges. This demonstration of resolve, Adesina argued, reflects a broader trend across the continent: a dedication to leveraging shared resources for mutual development.
ADF’s Legacy and Future Goals
Currently, the African Development Fund operates under an $8.9 billion financing cycle, the largest in its history, set to conclude in 2025. This cycle, known as the 16th replenishment, has facilitated substantial development across 37 African countries, particularly in regional transport infrastructure and energy projects. The proposed $25 billion target for the 17th replenishment represents a strategic effort to address both immediate and long-term developmental needs.
Adesina highlighted the ADF’s track record, noting its unique role as the largest financier of regional transport corridors and power pools in Africa. As he put it, “The Fund beneficiaries need concessional resources more than just grants,” which explains the drive to increase ADF resources to meet rising demands. Since taking office, Adesina has been a vocal advocate for the ADF’s expansion, pushing for access to capital markets to generate additional funding.
“ADF going to capital markets will help generate up to $27 billion additional resources starting from ADF’s 17th replenishment,” he stated, underscoring his vision to mobilize both concessional and non-concessional funding to maximize the Fund’s impact.
Sudan’s decision to boost its contribution to the ADF follows a recent $2 million pledge from Benin, with several other African nations signaling their intent to increase support. The AfDB’s executive director for The Gambia, Ghana, Liberia, Sierra Leone, and Sudan, Rufus Darkortey, lauded Sudan’s increased commitment, calling it “a powerful demonstration of steadfast dedication to a bigger ADF-17 Replenishment.” Darkortey praised Adesina’s leadership and the commitment of African leaders, adding that this collective effort “reflects Africa’s determination to lead its transformation.”
This spirit of unity and collaboration is evident in commitments from other African leaders as well. Last May, Kenyan President William Ruto pledged $20 million to the fund, marking one of the most substantial contributions from a single African nation. This wave of support underscores a growing belief among African leaders that sustainable development is best achieved through regional cooperation and self-reliance.
Africa’s leaders are clearly prioritizing sustainable growth and poverty alleviation, with the ADF’s replenishment acting as a vital tool to achieve these objectives. Through the fund, nations can pursue projects that address critical needs, such as energy access, infrastructure development, food security, and education. The $25 billion target, while ambitious, is seen as essential to equipping African countries with the resources needed to tackle challenges and foster resilience against global economic shocks.
By contributing to the ADF, African nations are not only investing in their future but are also demonstrating a commitment to regional solidarity and partnership. As Adesina observed, “This unified effort reflects Africa’s determination to lead its transformation,” a sentiment that resonates strongly in today’s interconnected world.
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