AfDB lauds UK’s commitment to economic transformation in Africa

The United Kingdom is the top donor to the African Development Fund (ADF), the Bank's concessional lending arm for its next three-year cycle, ADF-15 (2020 to 2022).

ADF-15 will look more into the investments in quality and sustainable infrastructure that is intended to strengthen regional integration and human, governance and institutional capacity development for increased decent job creation and inclusive growth. It has been that the next cycle would prioritize bold and transformative projects for achieving ambitious development results.

The developing association between the African Development Bank and the United Kingdom was consolidated by the Bank's participation in the UK-Africa Investment Summit in London earlier this month. During that time, a new infrastructure financing partnership was announced between the Bank and the Department for International Development (DFID).

Currently, as the world is confronting global climate emergency, the African Development Bank is looking to redouble its efforts to enhance renewable energy across the continent and expects this transition a high priority during COP 26 that will take place in Glasgow in Italy.

The contribution of the United Kingdom to several Bank's projects highly impacted or benefited the lives of millions in Africa's poorest countries. "Without any doubt, DFID and the UK government's investment in the African Development Bank pays off and delivers huge impacts in Africa," the President of the African Development Bank, Akinwumi Adesina opined.

The UK pledged £30 million in August 2019 for women's economic empowerment through the African Development Bank's Affirmative Finance Action for Women in Africa initiative. This pan-African initiative intends to close the gender gap for women in Africa.