Morocco Contributes $5 Mln to African Development Fund

Morocco has contributed $5 million to the African Development Fund (ADF), which provides concessional funding for projects, technical assistance for studies and capacity-building activities in Africa.

The Moroccan contribution was made during the Fund’s 16th replenishment meeting convened in Tangier Dec.5-6 to raise money for low-income African countries to enable them counter social and economic challenges.

President the African Development Bank (AfDB) Group, Akinwumi A. Adesina, has thanked the North African Kingdom for its contribution and strong commitment for the development of the continent.

During the Tangier meeting, ADF partners have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. this is the largest replenishment in the history of the Fund.

The $8.9 billion replenishment package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window.

ADF-16 core funding represents a 14.24% increase over ADF-15 of $7.4 billion. It is a strong endorsement of ADF and its impact in tackling the continent’s multiple development needs, including recovery from the Covid-19 pandemic, the effects of climate change, fragility, debt, and economic vulnerabilities.

This replenishment comes as the ADF celebrates its 50th year anniversary since its establishment in 1972. During the past five years alone, the Fund has helped to connect 15.5 million people to electricity, has given 74 million people to access improved agriculture and 42 million people access to water and sanitation.

In addition, 50 million people have gained access to improved transport. The Fund’s resources are also helping to build and rehabilitate 8,700 km of roads.

During the next three years, ADF will support sustainable & climate-resilient infrastructure, governance, capacity building and sustainable debt management in recipient countries. It will also focus on empowering women and girls as a condition for achieving inclusive and sustainable development.

The ADF-16 replenishment will deliver even more impacts over the next three years. It will help to connect 20 million people to electricity, 24 million people will benefit from improvements in agriculture, access to water and sanitation for 32 million people, and improved access to transport for 15 million people.