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Finland increases its support to African Development Fund

Finland to contribute €68.4 million to the restoration of the African Development Fund (AfDF). Finland’s pledge consists of a grant and a concessional loan to be presented next year

The fund is the concessional window of the African Development Bank Group. Finland is also preparing a loan of  €80 million for the African Development Fund . The fund grants concessional loans to Africa’s poorest countries. The fund is usually restored after every three years.

More than 30 donor countries and representatives of African countries reached an agreement on the restoration of the AfDF for 2019–2022. The donor countries’ development cooperation funding totalled to €5.5 billion of the total financing package of €6.8 billion.

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Finland’s pledge means a 45% increase on the €62.8 million contributed in the 2016–2019 replenishment round.
The objectives of the AfDF are in line with Finland’s …