UK to Host Landmark African Development Fund Replenishment to Boost Africa’s Growth
The United Kingdom has announced that it will host the 17th replenishment pledging session of the African Development Fund (ADF) in December, bringing together global donors to agree on contributions for the 2026–2028 financing cycle.
The announcement was made by the UK Minister of State for Development and Africa, Baroness Jenny Chapman, during her meeting with African Development Bank Group President, Dr Sidi Ould Tah, on the sidelines of the United Nations General Assembly in New York.
Baroness Chapman confirmed the UK’s intention to make a strong financial pledge to the Fund and called on other development partners to do the same.
“The replenishment is an opportunity to signal our collective commitment to Africa’s growth and development, its institutions, and to innovative, modern approaches to development finance in a challenging global environment,” she said.
The African Development Fund, the concessional window of the African Development Bank (AfDB), provides grants, low-interest loans, and guarantees to 37 low-income African countries. Since its creation in 1972, the Fund has disbursed over $45 billion to help expand opportunity, resilience, and inclusive growth across the continent.
Baroness Chapman emphasised the UK’s longstanding partnership with the Fund, highlighting its “strategic engagement and continued support” despite fiscal constraints in global aid budgets.
Dr Sidi Ould Tah welcomed the UK’s leadership, describing the decision to host the replenishment session as a “rallying call for a strong ADF-17”.
“This replenishment is not only an investment in Africa’s development but also in shared global prosperity,” said Dr Ould Tah.
Ahead of the London session, development partners are advancing financial innovations such as the Market Borrowing Option, which will allow the Fund to leverage its equity and access capital markets for the first time—broadening its resource base to meet Africa’s growing needs.
Several African countries have also pledged to the Fund, demonstrating Africa’s ownership and commitment to financing its own development priorities.
In a related development, Baroness Chapman expressed support for a proposal by Dr Ould Tah for the UK to host a Private Sector Day, aimed at convening private companies and development finance institutions to explore investment opportunities across Africa. The initiative aligns with the Fund’s strategic focus on expanding private sector engagement in ADF countries.
Against a backdrop of global economic uncertainty and geopolitical tension, concessional financing remains vital for sustaining progress and preventing setbacks, particularly in fragile states.
Over the past decade, the African Development Fund has delivered transformative results — connecting 18 million people to electricity, boosting agricultural productivity for 11 million farmers, and improving access to clean water, sanitation, and transport for over 130 million people combined.
In 2021, the Centre for Global Development ranked the ADF second among 49 bilateral and multilateral agencies for the quality of its development assistance, underscoring its effectiveness and credibility as a global development partner.
