Africa's Fund for Africa's Future
The African Development Fund (ADF) held its 39th Annual Meetings in Marrakech, Morocco, during the 48th Annual Meetings of the African Development Bank Group (AfDB). The fund used the occasion to take stock of its achievements and prospects.
In about 40 years the ADF has provided about 4,000 loans and grants for a total of US$36 billion that have improved the lives of many Africans. It has thus contributed significantly to the social and economic transformation of the continent. The ADF success is, to a great extent, due to its effective partnerships approach with all parties concerned with specific country development, from the project beneficiaries themselves to civil society to public authorities.
Moving forward, the ADF will continue to stand by African economies, so as to strengthen social and economic transformation, and intervene more robustly in areas such inclusive growth, green economy, agriculture and food security, as well as gender and fragile states.
The ADF-12 cycle ends in 2013 and the replenishment of ADF-13 started in February 2013. With the numerous socio-economic challenges that lie ahead and the increasing needs of countries for more resources, the AfDB Group will need appropriate financing for ADF-13. An essential condition if the institution is to continue its contribution to Africa’s economic transformation.