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Access to the resources of the African Development Fund (ADF) is guided by the classification of Regional Member Countries (RMCs) under the Bank Group’s credit policy, which is driven by two criteria: (i) per capita income; and (ii) creditworthiness to sustain the non-concessional financing.
The credit policy classification determines each RMC’s eligibility for either concessional resources (category A – ADF countries), non-concessional resources (category C – ADB countries), or a combination of both concessional and non-concessional resources (category B, or blend countries).
Creditworthiness to sustain non-concessional financing
Per capita income
Countries below cut-off point and not creditworthy
Only eligible for ADF grants and loans
Countries below cut-off point and creditworthy
Eligible for ADB resources and for ADF loans subject to a cap and hardened terms
Countries above cut-off point but not creditworthy
Only eligible for ADF loans on hardened terms
Countries above cut-off point and creditworthy
Only eligible for ADB resources
Exceptionally, Graduating Countries are eligible for ADF loans on hardened terms during a 2 to 5-year phasing-out period
A framework guiding RMCs’ transition from one credit status to another was adopted in 2011. The transition framework also provides the criteria which determines the length of the transition period and the financing mix during this period. The minimum transition period is two years and the maximum is five years, depending on vulnerability factors that may affect both the country’s socio-political landscape and its macroeconomic development. A downgrade may occur if a graduated country experiences difficult political, social or economic shocks to the extent that the eligibility criteria are no longer met.
In 2014, the Bank introduced a flexibility in its Credit Policy aimed at proactively responding to the economic development needs in ADF countries by granting access to this category of countries, on a case-by-case basis, to resources from the ADB public window for financing transformative projects.
RMCs Eligible for ADF Resources as at February 2018
Graduating to ADB (1)
Central African Rep.*
Sao Tome & Principe
* Fragile and conflict-affected state