Finland and African Development Bank Strengthen Ties for Sustainable Development

Finland Deepens Partnership with African Development Bank, Expanding Support for Circular Economy and ADF-17 Replenishment.

On 23 January 2025, Finland reaffirmed its commitment to Africa's development during a high-level visit to the African Development Bank (AfDB) headquarters in Abidjan, Côte d'Ivoire. The Finnish delegation, led by Anna-Kaisa Heikkinen, Director General for Africa, Middle East, and Latin America, engaged in strategic discussions with AfDB leaders to enhance cooperation on circular economy initiatives, private sector investment, and the upcoming African Development Fund’s 17th replenishment (ADF-17).

The Finnish delegation included Ambassador Anu Saxén, Finland’s envoy to Senegal, Côte d'Ivoire, and The Gambia; Krista Napola, Director for West and North Africa at the Ministry for Foreign Affairs; and senior officials. The AfDB team was led by Dr. Beth Dunford, Vice President for Agriculture, Human and Social Development, alongside senior leaders including Mette Knudsen, Executive Director representing Nordic countries, and Gauthier Bourland, Senior Director for Resource Mobilization.

Focus on Circular Economy and Climate Goals

A major highlight of the discussions was Finland’s contributions to the Africa Circular Economy Facility (ACEF), a multi-donor trust fund launched in 2022 with the Nordic Development Fund. Finland, a founding partner of ACEF, doubled its 2024 contribution with an additional €2 million, bringing its total support to €4 million. ACEF supports African countries in meeting climate targets under the Paris Agreement and Agenda 2063 through sustainable practices.

Anna-Kaisa Heikkinen praised the AfDB’s efforts, stating: "The Bank's expertise and deep presence in African countries are invaluable. We are pleased to see the circular economy integrated into its core operations."

Commitment to ADF-17 and Development Cooperation

During discussions on the African Development Fund (ADF-17), Gauthier Bourland and Joy Kategekwa emphasized the importance of multilateral contributions for achieving development targets. Finland has been a consistent contributor to the ADF, providing €160 million over the ADF-15 and ADF-16 cycles. The ADF-17 replenishment is critical for supporting 37 countries in addressing challenges like post-COVID recovery, climate resilience, and economic integration under the African Continental Free Trade Area (AfCFTA).

Boosting Finnish Private Sector Investment in Africa

Expanding business opportunities was also a key topic. The Bank encouraged Finland to increase private sector engagement following a successful event in Helsinki in September 2024, where over 50 Finnish companies explored opportunities in minerals, technology, and circular economy sectors. AfDB leaders, including Aida Ngom, Mike Salawou, and Frank Mvula, urged Finland to leverage its sustainable technology expertise for impactful investments.

Path Forward: Deepening Strategic Collaboration

The meeting concluded with a shared commitment to strengthen cooperation. Both parties agreed to maintain high-level engagements and prioritize sustainable projects that drive inclusive growth across Africa. The partnership between Finland and the AfDB is set to grow further as ADF-17 progresses, showcasing Finland's long-term dedication to Africa’s development through concessional financing and private sector collaboration.