Global Leaders unite to advance the African Development Fund’s 17th Replenishment

Abidjan, Côte d’Ivoire – May 28, 2025 . On the sidelines of the African Development Bank Group’s 2025 Annual Meetings, leaders from government, civil society, and international institutions convened for a high-level panel focused on bold strategies to ensure a successful 17th replenishment of the African Development Fund (ADF-17). The session reaffirmed the Fund’s critical role in driving sustainable development in Africa’s most vulnerable countries.

Building on momentum from the first ADF-17 replenishment meeting held in March 2025, panelists underscored the urgent need for robust financing to meet Africa’s development goals. With trillions of dollars required to achieve the Sustainable Development Goals (SDGs), speakers called for a fully resourced ADF capable of scaling its impact.

Speaking during the session Serah Makka, Executive Director for ONE in Africa, said “ The African Development Fund’s 17th replenishment is more than a funding round; it is a decisive moment to reclaim Africa’s economic destiny. We must go beyond traditional donors and boldly mobilise the private sector, new shareholders and innovative financing models that reflect Africa’s realities.  Gradual improvements are no longer enough. The next phase of Africa’s development demands visionary leadership that breaks down barriers, demands fair access to capital and delivers real impact for millions of Africans waiting for opportunity.

A major point of the discussion was the critical importance of mobilizing the African private sector. Panelists highlighted this as a strategic opportunity to showcase investment needs on the continent and attract diverse funding from existing donors, new partners, and private investors. The African Development Bank’s scale and efficiency were spotlighted as key advantages, with panelists drawing lessons from similar initiatives in Europe and the Caribbean.

The conversation also explored the AFD’s potential to foster innovation and expand its base of contributors. Panelists urged the inclusion of new shareholders particularly African countries and institutions to strengthen local ownership and regional impact.

“Africa is facing a significant financing gap. To close it, the African Development Fund must play a central role,”said Daouda Sembene, CEO of AfriCatalyst, during his closing remarks. “ADF-17 is an opportunity to ensure current contributors remain engaged, while also bringing in new partners from within and beyond the continent.

The ADF-17 replenishment process comes at a defining moment for Africa’s voice in global financial reform. With South Africa set to assume the G20 Presidency, panelists pointed to a unique opportunity to push for greater access to affordable development financing, stronger regional value chains, and expanded intra-African trade.

The African Development Fund, the concessional window of the African Development Bank Group supports 37 countries, including both vulnerable states and those transitioning into emerging markets. Between 2015 and 2023, the Fund has connected 3.2 million people to electricity, supported improved agricultural outcomes for 71 million people, and rehabilitated over 11,000 kilometers of roads.