Brochure - ADF: 50 years of making a difference 2022 | Page 4

About the African Development Fund
Over the past 50 years , the Fund has cumulatively invested $ 45 billion across the
African continent , improving the lives of millions of people .

The African Development Fund is the concessional financing window of the African Development Bank Group . It provides low-income African countries with concessional loans , grants and guarantees . The Fund also offers technical assistance for studies and capacity building to support programs and projects that reduce poverty and bolster socioeconomic development .
Established in 1972 , the African Development Fund became operational in 1974 . It is today the only major development institution headquartered on the African continent and caters to the needs of 37 African countries , including the most fragile and vulnerable on the continent .
Over the past 50 years , the Fund has cumulatively invested
$ 45 billion across the African continent , improving the lives of millions of people .
African countries have been able to draw on particularly strong support from the African Development Fund during the Covid-19 pandemic . Overall , the Fund ’ s track record of operations and project delivery makes it a respected and trusted partner to African governments .
“ Right from its inception , the African Development Fund has improved the lives of millions of people by providing concessional loans to those countries that need it most . The Covid-19 pandemic reminds us why we created the African Development Fund in the first place : to make a difference , especially for the poorest and most vulnerable countries . As we keep the end of the pandemic in our sights , we must build back a better , more resilient Africa . And nobody should be left behind . A better Africa is an Africa where progress is shared by all . We understand there are no quick fixes . So let us be even more relentless in the pursuit of our goals . Let us turn peril into possibility and make a difference where it matters . Together , we can make it happen . Thanks to your continued support , the African Development Fund delivers value for money — now and in the future .” - Dr . Akinwumi A . Adesina , President , African Development Bank Group
2 50 Years I African Development Fund