By: ThinkBusiness Africa
The African Development Bank (AfDB) Group opened a critical two-day pledging session in London on Monday, seeking an ambitious $25 billion for its concessional lending arm, the African Development Fund (ADF).
This 17th Replenishment (ADF-17) is deemed essential to boost climate resilience, combat poverty, and accelerate economic growth across 37 low-income and fragile African countries over the next 2 years (2026–2028) circle.
Co-hosted by the governments of the United Kingdom and Ghana, the meeting brings together senior leaders from the AfDB, ADF recipient countries, and key development partners to finalize the funding package.
The $25 billion target set by former AfDB President Dr. Akinwumi Adesina is a significant escalation, aiming to nearly triple the $8.9 billion raised during the last replenishment (ADF-16) in 2022. The increased ambition is driven by a confluence of crises, including escalating climate impacts, a persistent infrastructure deficit, and heavy debt burdens that have severely limited the fiscal space of Africa’s poorest countries.
The AfDB is betting on financial innovation, specifically the ADF’s new ability to leverage its equity in the capital markets—known as the Market Borrowing Option—to multiply donor contributions. This instrument is projected to generate up to an additional $27 billion in resources, significantly expanding the Fund’s impact beyond direct donor pledges.
Despite the high target and the Fund’s vital importance, the pledging session is taking place amid a globally challenging economic environment, with many traditional donors — including the United States (U.S) facing domestic aid budget constraints.
Earlier this year, the US withheld a $197 million tranche pledged in the previous replenishment round for the African Development Fund (ADF), this is raising doubts about Washington’s contribution ahead of the two-day meeting.
The U.S. accounted for nearly 7% of the last ADF replenishment of $8.9 billion, ranking among the top five donors alongside Germany, France, Britain and Japan.
As of late 2025, total pledges publicly announced stand at an estimated $1.4 billion, representing only about 5% of the $25 billion target.
Denmark announced a planned 40% increase over its previous contribution, providing $171 million.
Norway has announced approximately 296.2 million in funding for the 2026–2028 period.
A number of African nations—including Kenya ($20M), Ghana ($5M), Zambia ($5M), and Benin ($2M)—have stepped up their own pledges, demonstrating a strong, unified commitment to the Fund.
The ADF is Replenished every three years, it has provided $45 billion to 37 low-income African countries since 1972, financing irrigation, roads, electricity projects, and green energy projects.
Unlike the AfDB’s main lending window, which carries higher interest rates and stricter conditions, the ADF offers grants and concessional loans with repayment periods exceeding 20 years.
Over the last decade ADF has provided over 18 million people with electricity and improved access to water and sanitation for over 48 million people.
