Ghana urges donors to boost commitments as ADF-17 pledging meeting opens in London

The Deputy Minister of Finance, Mr Thomas Nyarko Amprem, has urged development partners and member countries to increase their financial commitments to the African Development Fund as the final pledging meeting for its 17th general replenishment cycle opened in London on Monday.

Addressing the high-level meeting, Mr Amprem described the Fund as a vital financing vehicle for addressing Africa’s development challenges, particularly at a time when many countries are grappling with fiscal pressures and limited access to international capital markets. He stressed that concessional financing remains essential for sustaining growth and reducing vulnerability across the continent.

“The African Development Fund remains a strategic instrument of the Bank Group to reduce vulnerability on the continent,” Mr Amprem said, calling on donors and participating countries to “do more” to ensure the Fund is adequately resourced to respond to Africa’s expanding development needs.

He noted that the Fund has become increasingly important for countries seeking affordable financing to invest in critical sectors such as infrastructure, energy, agriculture, health and education, especially as global economic conditions tighten.

The London meeting has also been marked by what officials described as an unprecedented rise in commitments from African countries themselves. The President of the African Development Bank Group, Dr Sidi Ould Tah, said the number and volume of African contributions had increased more than threefold.

“They send a clear signal: Africa is not only a beneficiary of the ADF; it is a co-investor in its own future,” Dr Ould Tah said, describing the development as without precedent in the history of the Fund.

Participating in his first replenishment cycle as President of the Bank Group, Dr Ould Tah emphasised that the African Development Fund should be viewed as an investment vehicle rather than a traditional aid mechanism, highlighting its capacity to leverage additional resources.

“This replenishment is not about aid. It is about investment with measurable returns. Each dollar invested in the African Development Fund unlocks more than $2.50 in co-financing and private capital,” he stated, adding that ADF-17 aligns with his “Four Cardinal Points” agenda on access to capital, financial sovereignty, demographic opportunity and resilient infrastructure.

The meeting was co-hosted by the United Kingdom and Ghana at the headquarters of the European Bank for Reconstruction and Development and attracted strong expressions of support from key international partners. The UK Minister of State for International Development, Baroness Jenny Chapman, reaffirmed her country’s commitment to the Fund, while the President of the Arab Bank for Economic Development in Africa, Mr Abdullah Almusalbeeh, announced plans to begin co-financing cooperation with the ADF.

Established in 1972, the African Development Fund provides concessional financing to low-income African countries through three-year replenishment cycles, supporting projects in areas including infrastructure, agriculture, energy, water, health and education. The outcome of the ADF-17 pledging meeting is expected to shape the scale and impact of development financing across the continent in the coming years.