The African Development Fund (ADF) has raised a historic $11 billion from 43 partners for its 17th replenishment, the largest in its history.
This landmark achievement comes despite global economic challenges and shrinking aid budgets, sending a strong signal of confidence in Africa’s development potential.
“This is not just a replenishment. It is a turning point,” said Dr Sidi Ould Tah, President of the African Development Bank Group.
“In a challenging global environment, our partners chose ambition over retrenchment, and investment over inertia.”he added
For the first time, 23 African countries contributed to their own concessional financing, pledging a total of $182.7 million.
Nineteen countries made contributions for the first time, marking a five-fold increase from the previous replenishment.
Dr Ould Tah called this move transformational. “Africa is no longer just a recipient of concessional finance. Africa is a co-investor in its own future.”
ADF-17 introduces a new way of using concessional resources, focusing on investment-led development.
The Fund will leverage its balance sheet, deploy innovative financial instruments, and use concessional finance to absorb risk, attract private capital, and drive large-scale investment.
Each dollar invested through the Fund already unlocks more than $2.50 in co-financing and private capital, a ratio expected to grow under the new model.
“This allows concessional finance to do what it does best: absorb risk, unlock private investment, and accelerate development at scale,” Dr Ould Tah said.
The replenishment also strengthens large-scale co-financing partnerships with major development finance institutions, enhancing the Fund’s ability to deliver impactful projects in the continent’s most challenging environments.
Resources mobilised will support 37 low-income and fragile countries, with a focus on expanding energy access, boosting food security, investing in human capital, advancing regional integration, and building resilient infrastructure.
Targeted support will continue for countries facing fragility through mechanisms such as the Transition Support Facility.
The London pledging session, co-hosted by the United Kingdom and Ghana, concluded a year-long process amid global uncertainty.
Baroness Jenny Chapman, the UK Minister of State for International Development and Africa, said the UK is proud to support Africa’s development through the Fund.
Ghana’s Deputy Minister of Finance, Thomas Nyarko Amprem, called the Fund a strategic tool to reduce vulnerability across the continent.
“The success of ADF-17 confirms strong international confidence in the Fund’s strategy and Africa’s potential to deliver results at scale,” Dr Ould Tah said.
“This replenishment goes beyond aid. It is a strategic investment with measurable returns in growth, stability, trade, and global resilience.”he added
Since 1972, the African Development Fund has provided over $45 billion in grants, concessional loans, and guarantees to Africa’s lowest-income countries, remaining a key pillar of African-led development finance.