{"id":4452,"date":"2025-12-17T11:49:06","date_gmt":"2025-12-17T11:49:06","guid":{"rendered":"https:\/\/microvibenews.com\/?p=4452"},"modified":"2025-12-17T11:49:06","modified_gmt":"2025-12-17T11:49:06","slug":"african-development-bank-gets-record-11bn-in-funding","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=4452","title":{"rendered":"African Development Bank gets record $11bn in funding"},"content":{"rendered":"

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The African Development Bank\u2019s concessional financing arm mobilised a record $11 billion in its 17th replenishment, an amount the multilateral lender said signals confidence in the continent\u2019s development prospects.<\/p>\n

The funding includes as much as $2 billion from the OPEC Fund for International Development and up to $800 million from the Arab Bank for Economic Development in Africa, the lender said in a statement on Tuesday. Pledges to the African Development Fund, or ADF, were received from 19 African nations for the first time, it said.<\/p>\n

\u201cIn one of the most difficult global environments for development finance, our partners chose ambition over retrenchment, and investment over inertia,\u201d AfDB President Sidi Ould Tah said in the statement.<\/p>\n

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In May, US President Donald Trump announced plans to eliminate $555 million in contributions to the ADF. The fund, through which the AfDB provides grants and concessional loans, is a key source of assistance for the continent\u2019s least-developed countries. The US was previously the third-biggest contributor to the fund after the UK and Germany.<\/p>\n

While the US participated in a two-day pledging meeting that took place in the London this week, it was \u201cnot in a position to pledge,\u201d the AfDB said in response to questions. The top three donors were Germany, the UK and Japan, it said, without providing further details.<\/p>\n

The latest replenishment marked a \u201cstructural shift in how concessional resources will be used,\u201d the bank said. A new financial model has been endorsed that will allow the ADF to:<\/p>\n

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  • Leverage its balance sheet, including through a market borrowing option, to be operationalised during this cycle;<\/li>\n
  • ?Deploy innovative instruments, including hybrid capital;<\/li>\n
  • ?Use concessional finance strategically to absorb risk, crowd in private capital, and catalyse investment at scale.<\/li>\n<\/ul>\n

    The funding mobilized under the latest replenishment will support projects including expanding access to energy, strengthening food systems and building resilient infrastructure in 37 low-income and fragile African countries, the bank said.<\/p>\n

    Established in 1972, the ADF has provided more than $45 billion in grants, concessional loans, and guarantees to Africa\u2019s lowest-income countries.<\/p>\n

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