AfDB Examine 10 years of investing in regional #infrastructure across Africa via ADF

 


The African Development Bank’s new report “Crossing Borders, Connecting Communities, Changing Lives” looks at 10 years of investing in regional #infrastructure and stimulating development across Africa through the #AfricanDevelopmentFund, the Bank’s concessional lending window.  


Contributing to more than 80 active projects and programs, ADF’s regional operations envelope provides vital support to 37 low-income countries across Africa and is increasingly focused on areas experiencing fragility. Under the fifteenth replenishment of the Fund, more than 43% of resources were allocated to fragile regions such as the Sahel, the Horn of Africa, and the Lake Chad region, surpassing the Bank’s initial target of 20%.


According to the report, between 2020 and 2022, ADF expects to finance 51 projects and programs worth $2.7 billion and mobilize another $1.5 billion in co-financing from development partners such as the World Bank, the Green Climate Fund, the OPEC Fund, and the European Investment Bank.


“At the Bank, we know that regional connectivity will catalyze Africa’s path to recovery,” said Yacine Fal, the Bank’s acting vice president for regional development, integration, and business delivery. “This is especially true in light of climate shocks, debt vulnerabilities, the COVID-19 pandemic, and the Russia-Ukraine conflict. Strong regional operations in ADF countries merit our support. They will lay the foundations of social and economic resilience for decades to come.”


Download the report: https://bit.ly/3P5CW0c #ADF16 #50ADF

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