African development fund replenished with $9.5bn

| Friday October 29, 2010 00:00

In concluding the ADF-12 negotiations, donors strongly endorsed the ongoing institutional reforms and the strengthened results focus of the AfDB Group, and the effectiveness and delivery capacity of the ADF. They also noted the critical role that the ADF is playing in low income countries in Africa.

The AfDB Group President, Donald Kaberuka, noted: 'I applaud the effort made by many donors to replenish the African Development Fund in spite of the tough fiscal position in many countries. It is a signal of confidence in the Fund/Bank and we will do our best to deploy these resources optimally in the agreed priority areas'.

The strategic thrust of ADF-12 is to support economic growth, with a strong focus on accounting for medium and long-term results, in Africa's low-income countries. Priority areas of operational engagement include public sector investments in infrastructure, governance and regional integration, with additional support going to fragile states.

Particular attention will be given to mainstreaming climate change adaptation and mitigation measures in all operations. Given the need for deepening regional economic integration and accelerating private sector development on the continent, the AfDB Group will scale up investments in these areas from both its concessional and non-concessional windows over the next three years.