The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
On November 28 and 29, 2016, the third and final replenishment meeting for the 14th replenishment of the African Development Fund (ADF-14) is taking place in Luxembourg, following two previous meetings held in Abidjan in March and June 2016. This is the opportunity for donors to the Fund to mobilize the resources that will support development projects financed by the ADF from 2017 to 2019, as part of the African Development Bank Group’s Ten Year Strategy. Several of the Fund’s recipient countries will also be present along with observers from peer institutions.
Many flagship projects have been made possible through the ADF: projects to support food security in Madagascar and Senegal (video), New Rice for Africa (NERICA) (video), the Ketta-Djoum-Brazzaville road in the Congo (video), the Mozambique drinking water project (video) and the Menengai Geothermal Power Station in Kenya (video), among other examples. Other, more recently launched projects include: the development of agricultural value chains in The Gambia and a project to create employment and improvement of livelihoods in Mozambique.
Each of these projects has very tangible impacts on the ground, changing the lives of millions of Africans. Behind the figures, there are lives, communities and countries that are seeing new prospects open out before them. The purpose of the ADF is to change the lives of the most vulnerable African populations.
For 2017 to 2019, the AFD-14 goals are clear, with a focus on the African Development Bank Group’s High 5 development prorities.
1- Light up and power Africa: US $2.9 billion will be invested in energy to install up to 4,600 MW of capacity and to connect 23.6 million Africans to the power network.
2- Feed Africa: US $2.1 billion will be allocated to the agriculture sector to grow farm incomes and reduce poverty in rural areas.
3- Industrialize Africa: US $1.7 billion will be reserved for industrialization projects. The priority will be on funding the private sector through a range of risk mitigation instruments, guarantee products and mixed funding mechanisms to attract other funds to fill the funding gap.
4- Integrate Africa: US $2.7 billion will be mobilized in support of regional integration projects to address the lack of integration that is costing the continent between 1 and 1.5 per cent in annual GDP.
5- Improve the quality of life for the people of Africa: US $1.9 billion will be invested to create 17.5 million jobs in ADF countries and strengthen the economic and employment skills of 50 million young Africans by 2050.
The crucial importance of the ADF is long established: between 2008 and 2013, ADF-funded projects and programmes meant that over 13 million Africans gained access to safe drinking water and sanitation services; 42.2 million benefited from new transport infrastructure; and 64 million were able to access education. Over the same period, more than 3 million Africans were connected to the electricity grid for the first time; 46.1 million saw their agriculture skills improved; and 10.2 million benefited from microfinance initiatives.
In nearly 40 years of existence, the ADF has awarded more than US $40 billion in funding, making it one of the main sources of concessional funding in Africa with 38 recipient countries* and 29 donor countries to date. It is one of the three separate entities that make up the African Development Bank Group, with the AfDB itself and the Nigeria Trust Fund (NTF).
This last meeting of ADF-14, held behind closed doors in Luxembourg, will establish the amount of resources allocated to the Fund to enable it to finance its operations between 2017 and 2019 and, thus, contribute to unlocking the potential of Africa and improving the lives of millions of Africans on the continent.
* Eligibility for ADF is determined by a country’s gross national income per capita (GNI per capita) and its solvency.