Ghana, The Gambia, Liberia, Sierra Leone, and Sudan have collectively committed $16 million to the upcoming replenishment cycle of the African Development Fund (ADF), the concessional arm of the African Development Bank Group, in a historic demonstration of African solidarity and reform-driven finance.
On the fringes of the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire, a constituency conference ratified the collective pledge, which more than triples the $5 million committed in the previous cycle.
For the first time, the constituency’s five nations have all made contributions to the ADF. It is a significant indication of African ownership in determining the direction of the continent’s development and a 220 percent increase in investment.
While Sudan, Liberia, and Sierra Leone each donated $3 million, Ghana committed $5 million. The Gambia pledged $2 million after that. The increase represents a 62.5 percent increase in African involvement, increasing the number of African countries contributing to the ADF from 8 to 13.
In addition, the conference marked a change in leadership by honoring the work of Executive Director Rufus Darkortey and departing Sierra Leonean Finance Minister Sheku Bangura, who presided over the constituency.
Under their leadership, the constituency increased access to development financing, bolstered reform momentum, and deepened engagement with the Bank.
The Bank’s new focus on performance, selectivity, and co-finance is consistent with the ambitious budgetary and governance changes that each of the five nations has undertaken. Ghana has increased domestic revenue by implementing tax changes and digital compliance solutions.
The country of Liberia has been chosen to pilot the Bank’s Youth Entrepreneurship Investment Bank initiative, while Sierra Leone and Sudan have both received targeted support for infrastructure and crisis response.
The constituency reaffirmed its shared commitment to reducing reliance on external aid by mobilizing domestic resources and catalyzing private sector growth.
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It also outlined plans to transition eligible countries from concessional ADF financing to non-concessional African Development Bank funding, attract private capital and convert remittance flows into sustainable development instruments.
outgoing Sierra Leonean Finance Minister Sheku Bangura, urged member states to anchor domestic resource mobilization and private sector development in their national strategies.
As the constituency enters a new chapter, its united pledge and reform agenda stand as a model for African-led development. It is a message to the global community that Africa is ready to finance and shape its own future.
