African Development Fund Showcases Transformative Role Ahead of ADF-17 Pledging

Valerie Dabady, Manager of Resource Mobilization and Partnerships at the AfDB, delivered the keynote address, outlining the Fund’s financing architecture, catalytic role, and strategic direction.

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group (AfDB), took centre stage during a special edition of the African Transformation Briefing hosted jointly by the African Center for Economic Transformation (ACET) and the Global Strategic Communications Council (GSCC).

Held virtually on 29 July 2025 and moderated by Belinda Ayamgha, ACET’s Communications Manager, the session brought together development partners, journalists, and policymakers for an in-depth discussion on the ADF’s critical role in financing economic transformation across 37 low-income African countries — nearly half of which are fragile states.

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ADF: A Cornerstone of Africa’s Development Financing

Valerie Dabady, Manager of Resource Mobilization and Partnerships at the AfDB, delivered the keynote address, outlining the Fund’s financing architecture, catalytic role, and strategic direction. She stressed that the ADF has mobilised over $45 billion since its creation, targeting priority areas such as climate resilience, infrastructure, and regional integration.

“With 37 member countries, the African Development Fund is a cornerstone of Africa’s development financing architecture,” Dabady said. “Innovations like market borrowing and expanded donor engagement will be critical to increasing our impact.”

She explained that concessional resources are tailored to each country’s specific needs, enabling targeted investment in projects that might otherwise be considered too risky for commercial funding.

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Country-Level Impact: Zambia’s Experience

Joseph Chanda, Assistant Director for Economic Management and Planning at Zambia’s Ministry of Finance, provided a country perspective on how ADF resources are being leveraged for national and regional transformation.

Chanda cited the Lobito Corridor Project as a prime example — a strategic rail and road network linking Angola, the Democratic Republic of Congo, and Zambia. Through an allocation of just 10% of Zambia’s national resources, the country was able to leverage over $330 million in co-financing via the ADF’s regional window. The Fund has committed $500 million to the project, which is expected to boost logistics, agriculture, and mining, particularly for critical minerals vital to the global energy transition.

He also referenced the Kazungula Bridge Project, completed in 2021, where the ADF invested $68 million. The 923-metre bridge over the Zambezi River connects Zambia and Botswana, replacing an unreliable ferry service and integrating One-Stop Border Posts on both ends. This has significantly cut customs delays and improved trade efficiency along the North–South Corridor, reinforcing intra-African trade flows.

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Raising the ADF’s Profile and Broadening Partnerships

Participants in the session discussed donor engagement, capital market access, and the Fund’s future structure. Dabady confirmed that efforts are underway to bring in non-traditional partners and finalise approvals for the ADF to tap capital markets.

“The ADF has long flown under the radar,” Dabady noted. “Now is the time to raise its profile, demonstrate impact, and unlock greater investment for Africa’s pressing priorities.”

Kerezhi Sebany, Africa Director for Economic Opportunities at the ONE Campaign, closed the session with a call to action:

“We must shine a light on the African Development Fund. Awareness fosters transparency, trust, and partnership. Now is the time to tell the ADF story boldly.”

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Looking Ahead: The ADF-17 Replenishment

The African Development Fund is in the midst of its 17th replenishment cycle (ADF-17). The next consultative meeting with development partners will be held virtually on 18–19 September 2025, followed by an October session in Lusaka, Zambia, where government officials will showcase results and country-level experiences. The final pledging conference is scheduled for December 2025.

These discussions are expected to shape the Fund’s resource mobilisation strategy, ensuring it remains a powerful instrument for delivering inclusive growth, strengthening resilience, and driving sustainable development across Africa’s most vulnerable economies.