AfDB launches $25 billion funding drive for African Development Fund amid U.S. shortfall
Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
The African Development Bank (AfDB) has launched a global donor conference in London to raise $25 billion for its African Development Fund (ADF), which provides low‑interest loans to low‑income African nations. The fundraising effort, formally opened on December 15, comes as the U.S. government under the Trump administration continues to withhold $197 million in pledged financing from the previous funding cycle.
Valerie Dabady, the AfDB’s head of resource mobilization, said the ADF faces a grant funding gap of around $560 million if Washington fails to renew its commitment. Denmark, meanwhile, has boosted its contribution by 40% to 1.1 billion Danish crowns ($171 million), while Kenya pledged $20 million last year. In 2022, the U.S. accounted for nearly 7% of the ADF’s $8.9 billion total replenishment.
The ADF, a core concessionary window of the AfDB Group, finances infrastructure, governance reforms, climate resilience programs, and social development initiatives across Africa’s poorest countries. The latest replenishment effort aims to sustain these commitments in the face of rising demand for low‑cost development finance and global donor constraints.
