AfDB - African Development Bank Gro

Published purpose

The African Development Fund (ADF) is the concessional window of the African Development Bank (AfDB), the main development financial institution in Africa. The Bank's goal is to support economic and social development of African countries. This grant represents Canada’s long-term institutional support to the 14th replenishment of the African Development Fund, which is managed by the African Development Bank (AfDB). The AfDB’s African Development Fund uses these funds, along with other donors’ funding, to achieve its mandate. Canada's contribution seeks to strengthen Canada's commitment to help the poorest in contributing to the reduction of poverty in 40 African least developed countries (17 of which are fragile states). Through this Fund, the AfDB provides concessionary financing, such as grants and low-interest loans, to the poorest and most vulnerable African countries. The Fund’s strategic priorities for the 14th replenishment are: 1) to ensure universal access to electricity; 2) to transform agriculture; 3) diversify Africa's economic; 4) to develop regional markets; and 5) to improve access to opportunities social and economic, in particular by promoting the empowerment of women and access to jobs for young people.