African Development Fund Mobilises A Historic $11 Billion, Marking A New Era Of African Ownership And Investment-Led Development

For the first time in the Fund’s history, 23 African countries have made unprecedented contributions to their own concessional financing window.

LONDON, United Kingdom, December 18, 2025/ — The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group (www.AfDB.org), has secured a record $11 billion from 43 Partners for its 17th Replenishment (ADF-17), the largest in the Fund’s history, despite severe global fiscal constraints and declining aid budgets.

The outcome represents a 23% increase over the previous replenishment and sends a clear signal of confidence in Africa’s development prospects, the African Development Bank Group’s leadership, and a new development model centred on investment, risk-sharing, and scale.