Five African Nations Pledge $16M to Boost African Development Fund Replenishment

In a bold affirmation of African ownership in development financing, five nations—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—have collectively pledged $16 million to the African Development Fund (ADF), marking a historic step forward in the continent’s drive to fund its own growth.

The announcement was made during a constituency meeting held on the sidelines of the African Development Bank Group’s 2025 Annual Meetings in Abidjan, Côte d’Ivoire. The pledges reflect a more than threefold increase from the previous collective contribution of $5 million, signaling both a strategic and symbolic shift toward home-grown financing solutions.

A Milestone in African Solidarity and Responsibility

This marks the first time in the history of the ADF that all five countries within a single constituency have committed to the Fund’s replenishment cycle. The ADF is the concessional lending arm of the African Development Bank (AfDB) Group and plays a vital role in financing development initiatives in Africa’s low-income countries.

Rufus Darkortey, Executive Director representing the constituency, underscored the significance of this milestone. “This is a powerful message that Africa is not just a recipient but a partner in shaping its own future,” he said.

The pledges are broken down as follows:

• Ghana: $5 million

• Sudan: $3 million

• Liberia: $3 million

• Sierra Leone: $3 million

• The Gambia: $2 million

This surge in contributions has helped raise the total number of African donor countries from 8 to 13, a 62.5% increase in intra-African support for the Fund.

Leadership Transitions and Forward Strategy

The meeting also paid tribute to the outgoing leadership of Sheku Bangura, Sierra Leone’s Minister of Finance and Chair of the constituency’s governors, and Rufus Darkortey, who both completed their terms. Bangura emphasized the evolution of the group over the past three years: “Together, we turned challenges into stepping stones, building resilience, amplifying our voice, and unlocking greater financing flows for our countries.”

Welcoming Dr. Cassiel Ato Forson, Ghana’s newly appointed Finance Minister, and Augustine Kpehe Ngafuan, Liberia’s new Minister for Finance and Development Planning, the constituency anticipates continued progress under fresh leadership.

Mobilizing Domestic Resources and Promoting Private Sector Growth

The meeting wasn’t just about replenishment. The constituency reaffirmed its commitment to domestic resource mobilization (DRM)—a critical pillar for sustainable development. Noteworthy national achievements include:

• The Gambia: Doubled tax-to-GDP ratio in two years through fiscal reforms

• Ghana: Leveraged digital revenue systems to enhance compliance and fiscal space

• Liberia: Selected as pilot country for the Youth Entrepreneurship Investment Bank, and recipient of $40 million toward the Ghana SME Growth Opportunity Fund

Darkortey emphasized the role of DRM in national strategy: “If you get domestic resource mobilization and the private domestic sector right, your development will be stronger and faster.”

Infrastructure and Operational Expansion

Progress is also being made on infrastructure and operational capacity:

• A Bank office is being planned for The Gambia

• Ghana is receiving targeted macroeconomic support

• Liberia’s Coastal Highway Phase I is expected for approval in 2025

• Construction continues on Sierra Leone’s country office and Lungi Bridge project

• Sudan has benefited from emergency response and food security funding

These initiatives underline the increasing operational footprint of the AfDB in constituent countries and the push to align projects with national priorities.

From ADF to AfDB: A Vision for Graduation

Looking forward, the constituency aims to transition from ADF-only to African Development Bank financing, opening the door to larger and more flexible funding packages. Other strategic goals include:

• Attracting private capital

• Transforming remittance flows into development instruments

• Engaging more deeply in Bank governance

• Becoming credible, reform-driven investment destinations

Bangura summarized the evolving mindset: “The message from the Bank and development partners is clear: future resources will hinge on performance, selectivity, and a reduced grant component in financing. This is our moment to position our countries not as passive recipients but as agile reformers.”

A United Front for Africa’s Development Future

With mounting global uncertainty and a shifting development finance landscape, the five-country bloc is navigating with a renewed sense of purpose. As Bangura aptly concluded: “We may not control global tides, but we can control how we navigate them. The storm is strong. But so is our resolve, our unity, and our future.”