In our inaugural newsletter focusing on the African Development Fund (ADF), we explain why we believe the 15th replenishment of the Fund to be one of the most critical events for Africa in 2019. One reason is the fact that the ADF supports 70% of African countries with its resources. ADF provides transformative financing, especially to address issues of fragility with the support of many donors, including the United States of America. We highlight the Fund’s impact on rural communities, including in Senegal, where the population from Lake Guiers have seen improved resurgence in economic activity.
Did you know that the African Union considers the African Development Fund as the lead coordinator for mobilizing resources to fulfill Agenda 2063? This is because the ADF has a unique African identity and provides strong support to the continent’s low-income countries. For example, the ADF’s Desert to Power Program (DtP) is designed to transform the Sahel, one of the regions that is most vulnerable to climate change by financing project preparation for renewable energy projects, among other things. Most importantly, the ADF is a demonstration of South-South cooperation, pooling together financial support from African countries, as well such as Angola.
Nobody enjoys reading headlines about African youth migration or the travails of crossing the Mediterrean Sea in seach of a better life. The African Development Fund (ADF) is working with its regional member countries to build resilience and peace for prosperity. We are doing by institutionalizing support for countries in transition or those experience situations of fragility. Our menu of support includes the Transition Support Facility, the Transition State Coordination Office and newly launched Country Resilience and Fragility Assessment (CRFA). In this week’s newsletter, we discuss our work in countries like Somalia and the support that we have received from the Government of France to maintain peace, stability and security across Africa.
Although there is much more to be done, the African Development Fund is proud of its results. Between 2014 and 2018, ADF facilitated the installation of 206MW of new power capacity, of which 59MW was renewable energy. The ADF financed the construction and rehabilitation of 10,487km of feeder roads, linking farmers to markets. It also supported 546,000 small and micro businesses with access to finance. While these select results show just a glimpse of ADF’s important role in the development story of the African continent, the real feat is realizing these results with limited resources. The ADF has been an incredibly shrewd steward of ADF donor funds, leveraging each replenishment to achieve maximum impact. The value for money the ADF provides shows that the African Development Fund not only works hard, but also works smart for the people of Africa.