Browsing: African Development Fund

• Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
• Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
• With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.

African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.

In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.

As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …

The African Development Bank approved a grant of $27.4 to boost the efforts of the African Union (AU) to mobilize continental response to curb the spread of COVID-19 pandemic.

“With this financing package, we are reaffirming our strong commitment to a coordinated African response in the face of COVID-19. Most importantly, we are sending a strong signal that collectively, the continent can address the pandemic in Africa, which is straining health systems and causing unprecedented socio-economic impacts on the continent.” Said Akinwumi Adesina, African Development Bank President after the approval of the funds.

About $26.03 million of the grant will help strengthen the institutional capacity of the Africa Centres for Disease Control and Prevention (Africa CDC) to respond to public health emergencies across the continent. The remaining balance of about $1.37 million will be a contribution to the AU COVID-19 Response Fund.

The two grants are from the bank’s African …