Overview
- The two-day pledging conference in London secured $10.5 billion for the African Development Fund, topping the prior $8.9 billion round but below the $25 billion goal.
- Nineteen African countries contributed for the first time, bringing African member state commitments to $194.5 million, which AfDB called unprecedented.
- The meeting was hosted at EBRD headquarters, with the UK reaffirming support as co-host and Ghana urging donors to increase contributions.
- AfDB President Sidi Ould Tah framed ADF-17 under his Four Cardinal Points agenda and said each dollar invested can unlock more than $2.50 in co-financing and private capital.
- BADEA signaled plans to begin co-financing with the ADF, while the AfDB did not disclose whether the United States pledged funds.