Five African nations - The Gambia, Ghana, Liberia, Sierra Leone, and Sudan - have pledged $16 million to the African Development Fund (ADF), marking a 220% increase from the previous cycle. This collective commitment was made during the Bank Group's Annual Meetings in Abidjan, Côte d'Ivoire.
*Breakdown of Pledges:*
- *Ghana*: $5 million
- *Sudan*: $3 million
- *Liberia*: $3 million
- *Sierra Leone*: $3 million
- *The Gambia*: $2 million
This brings the total number of contributing African countries to 13, a 62.5% increase in continental participation. The funding surge signals growing commitment among African countries to bolster home-grown financing solutions.
*Key Focus Areas:*
- *Domestic Resource Mobilization*: Reforms in The Gambia doubled its tax-to-GDP within two years, while Ghana's digital revenue systems enhanced its fiscal space.
- *Private Sector Development*: Liberia was selected as the pilot country for the Bank's Youth Entrepreneurship Investment Bank initiative.
- *Infrastructure Development*: Liberia's Coastal Highway Phase I and Sierra Leone's country office construction are ongoing projects.
The African Development Bank Group aims to position member countries as active partners rather than passive recipients, focusing on performance, selectivity, and reduced grant component in financing ¹.
