ADF 12 Replenishment Second Consultation Meeting
|Location:||Cape Town, South Africa|
As part of Second Meeting of the Twelfth Replenishment of the Africain Development Fund (ADF-12), the African Development Bank President, Donald Kaneruka, delivered, on 22 February 2010, his opening statement.
Below are key elements of his statement:
We have, together, in successive previous cycles achieved a great deal on the continent. The Fund has demonstrated its dexterity, its relevance and its place in the aid architecture. Now, as we go forward:
- We essentially face three challenges which I would describe as:
- Consolidating gains and preventing slippages
- Sustaining and building on our achievements
- Being ready at all times to adapt to exogenous shocks and changing landscape.
- Regional economic integration. You will be pleased to know that the bank is becoming the lead financier of regional integration work in Africa. Since the turn of this decade, we have invested close to $9 billion, making the Bank the largest financier in the domain in Africa.
- Fragile states. Under ADF-12, the Bank will continue to support these countries in rebuilding fractured institutions, infrastructure rehabilitation, capacity, and arrears clearance. Tailoring our interventions to each country’s circumstances and taking into account the lessons we have learned during ADF-11.
- Budget support operations. The Bank has now acquired solid experience which enables us to maximize the benefits.
- Climate Change. We have an opportunity to follow a new, lower carbon, development path. However such projects will undoubtedly require significant additional financial resources.
Photo gallery of the opening session:
A Selection of African Development Fund Projects
|AfDB & Mozambique: Building together a better Africa||The Talo Weir in Mali|
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The second consultation meeting for the replenishment of the African Development Fund (ADF-12) will be held in Cape Town, South Africa, from 22-23 February 2010. The ADF-11 Mid-Term Review (MTR) was held in Helsinki, Finland on October 20 and 21, 2009. This forum also served as the kick-off and first meeting of the ADF-12 replenishment process.
The replenishment meeting comes at a critical time for the African continent. With only five years remaining before the 2015 Millennium Development Goals (MDGs) deadline, Africa stands out as the continent with the biggest development financing gaps. The 2008-2009 global economic and financial crisis has further challenged ADF countries, particularly fragile states, and jeopardizes the gains Africa has made over the past several years. To restore economic growth to pre-crisis levels, bridge infrastructure gaps, pursue regional integration, invest in climate change adaptation and mitigation, and achieve the MDGs, the needs are high.
Under ADF-11, the Fund has responded expeditiously to the needs of its clients, and has achieved unprecedented levels of commitments, particularly in its core strategic priority areas of infrastructure, governance, support for fragile states and regional integration. Both commitments and disbursements have doubled compared to ADF-10, demonstrating the ADF’s capacity, flexibility and commitment to Africa’s development. Under ADF-12, the Fund is committed to maintaining this track record of success even while it continue to build its capacity to deliver and measure development impacts in ADF client countries..
In the ADF-12 period, the ADF will also continue to contribute to development results on the ground. Recently, the AfDB’s President recalled that AfDB “agreed to put in place a robust Results Management Framework. We now have such a framework that systematically attempts to measure the results of our operations on the ground. It is generating early strong, growing evidence that ADF operations exiting the portfolio are contributing significantly to development outcomes, such as the 17 million persons who have been connected to the electricity networks and 2 million persons who were able to access clean water.”
The ADF is the African Development Bank (AfDB) Group’s concessional window. It promotes economic and social development in 38 low-income African countries through the provision of concessional loans and grants (including to the private sector) to finance projects and programmes, as well as technical assistance for studies and capacity-building activities. Its main objective is to reduce poverty in Africa. As the Bank Group invests in new projects and initiatives on the continent, the resources provided to the ADF are periodically augmented.
The ADF is replenished every three years by 26 donor countries. The previous and 11th replenishment of the ADF, for the Fund’s 2008-2010 operations, was concluded in December 2007 at a record level of USD 8.9 billion.
- Cape Town, South Africa, February 22, 2010 - Opening Statement by AfDB President at the ADF 12 (80 kB)
- Cape Town, South Africa, February 22, 2010 - Opening Speech, Ministre Pravin Gordhan (243 kB)
- Cape Town, South Africa, February 23, 2010 - Closing Remarks by the AfDB President at the ADF 12 (184 kB)