African Development Fund’s 12th Replenishment Raises at least US$9.35 Billion

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Tunis, 9 September 2010 – Representatives of donor countries, accompanied by Ministerial representatives of recipient countries, met in Tunis on September 7 and 8, 2010, to discuss the Twelfth Replenishment of the African Development Fund (ADF-12), the concessional window of the African Development Bank Group. Donors agreed on a replenishment level of at least US$9.35 billion for the ADF over the next three years (2011-2013). They also agreed that there would be an opportunity until early October for donors to increase their contributions.

Donors strongly endorsed the ongoing institutional reforms in the African Development Bank Group and the effectiveness and delivery capacity of the ADF. They also noted the critical role that the Fund is playing in low income countries in Africa.

The African Development Bank Group President, Donald Kaberuka, thanked donors and indicated that “this replenishment represents renewed confidence in the African Development Fund. The US$9.35 billion goes a long way in demonstrating support for Africa and the Fund at a time of difficult fiscal positions in many donor countries”. He also noted at the conclusion of the meeting that he was “encouraged by the willingness of the Fund’s donors to consider additional support in the next few weeks taking into account the forthcoming Millennium Development Goals (MDG) Summit”.

ADF-12 resources will finance the Fund’s public sector investments in Africa’s low-income countries during the next three years, with selective focus on infrastructure, governance, regional integration and support to fragile states. The financial support will also help low income countries deal with many overarching issues, including most notably innovative approaches in private sector development, greater effort at integrating climate change adaptation and mitigation measures in project portfolios, raising gender awareness in project formulation and implementation, and better preparation of projects aimed at deepening regional integration.
The ADF is part of the African Development Bank Group, the premier development finance institution in Africa. The ADF provides concessional resources to invest in development projects and programs in low income African countries, and its resources are replenished by donors every three years. The meeting in Tunis was the conclusion of negotiations for the Twelfth Replenishment of the ADF (ADF-12) covering the period 2011-2013 It was attended by representatives from donors to the ADF and representatives of African borrower countries.

State donors to the ADF are Argentina, Austria, Belgium, Brazil, Canada, China, Denmark, Egypt, Finland, France, Germany, India, Italy, Japan, Korea, Kuwait, the Netherlands, Norway, Portugal, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, the United Arab Emirates, the United Kingdom and the United States of America.

ADF recipient countries were represented in the negotiations by delegates from Burkina Faso, the Democratic Republic of Congo, Liberia and Uganda.

Established in 1972, the ADF represents an enduring development partnership between African countries and donors. It is an important source of funding and technical assistance for some 40 low-income countries on the African continent.