Browsing: Development projects in Africa

The African Development Fund (ADF) the concessional window of the African Development Bank (AfDB) has just got a boost from donor amounting to $7.6 billion which is a 32 per cent raise from the previous replenishment, AfDB press release reads.

The boost which came to fruition on Thursday 5 December 2019, comes as a good sign to the funding landscape in the bank, showing how AfDB commands trust and further the development funding sphere in Africa.

About the ADF

According to AfDB, the ADF which was established 1972 and became operation in 1974, contributes to poverty reduction and economic and social development in the least developed African countries by providing concessional funding for projects and programs, as well as technical assistance for studies and capacity-building activities. The Fund has cumulatively invested up to $45 billion over its 44 years of operationalization on the African continent.

On the same note, the …