AfDB - African Development Bank Gro

Published purpose

This grant represents Canada’s long-term institutional support to the 13th 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. 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 13th replenishment are: (1) infrastructure development; (2) regional integration; (3) private sector development; (4) governance and accountability; and (5) skills and technology. The Fund also pays particular attention to supporting fragile states, promoting food security and agricultural productivity, and promoting gender equality. The African Development Bank helps to reduce poverty, improve living conditions, and mobilize resources for the sustainable economic and social development of its 53 African-country members. It promotes cooperation (including regional and sub-regional cooperation) and international trade, particularly among its African-member states. This initiative represents one of two parts of Canada’s support to the 13th replenishment of the African Development Fund (the second part of Canada’s support is represented by project M-013882-001).