France Provides $253 Million Loan for African Development Fund Replenishment

The Africa Development Bank secured a $253 million concessional loan from France to support the 14th replenishment of the African Development Fund (ADF). This agreement marks a significant financial commitment to the Fund's expansion.

The agreement was signed by Hassatou N’Sele, the African Development Bank's acting Vice-President for Finance, and Jean-Pierre Marcelli, AFD's Deputy Chief Executive Officer, in Paris. The transaction represents France's contribution to ADF-14.

This loan is the first concessional donor agreement for the ADF since the Fund's framework update in November 2016, which introduced a loan component to its financing structure.

Japan and India have also committed similar loan supports for ADF-14, with Japan providing $700 million and India $15 million, though their agreements are scheduled for early 2018.