"Pivotal Moment" as Africa's largest concessional lender seeks to raise profile ahead of major replenishment

 

Co-financed by the African Development Fund, the Kazungula Bridge connects Zambia and Botswana over the Zambezi River. Since its completion in 2021, the bridge has helped strengthen regional trade and transport along the North–South Corridor.

The pivotal role of the African Development Bank Group’s African Development Fund in advancing economic transformation across Africa's most fragile states was the showcase of a media-focused virtual briefing, co-hosted by the African Center for Economic Transformation and the Global Strategic Communications Council.  

Held on 29 July, the event brought together development partners, journalists, and policymakers for an in-depth discussion on the Fund’s impact and evolving strategic direction.   

“The African Development Fund has long flown under the radar,” said Valerie Dabady, African Development Bank Manager for Resource Mobilization and Partnerships, in keynote remarks. “But this is a pivotal moment to raise its profile, demonstrate impact, and unlock greater investment for Africa’s most pressing priorities.”   

Dabady outlined the Fund’s catalytic role and innovative financing structure, highlighting its ability to channel investment into climate resilience and regional integration. “As we look toward the future, innovations like market borrowing and expanded donor engagement will be critical to increasing our impact.” 

Joseph Chanda, Assistant Director for Economic Management and Planning in Zambia’s Ministry of Finance also spoke. He said that Zambia was leveraging African Development Fund resources to accelerate its infrastructure development agenda. 

“African Development Fund financing has played a transformative role in Zambia,” he noted. “By allocating just 10 percent of our national resources to the Lobito Corridor, we were able to leverage over $330 million in regional window co-financing. These are the types of investments that build real economies and regional prosperity.” 

The Lobito Corridor is a strategic rail and road network linking Angola, the Democratic Republic of Congo, and Zambia. It is one of the largest regional integration initiatives currently under preparation. Backed by the African Development Fund and other partners, the project is expected to catalyse investment in logistics, agriculture, and mining, particularly in critical minerals that are vital to the global energy transition. The Fund has committed a $500 million grant to help de-risk the initiative. 

Chanda also mentioned the Kazungula Bridge Project connecting Zambia and Botswana, which attracted grants and loans worth $68 million from the Fund. The initiative also includes One-Stop Border Posts that significantly ease customs procedures and reduce transit times along the North–South Corridor, linking Southern and Central Africa. 

Kerezhi Sebany, Africa Director for Economic Opportunities at the ONE Campaign said: “We must shine a light on the African Development Fund,” she said. “When people know what the Fund is and what it delivers, it fosters transparency, trust, and partnership. Now is the time to tell the Fund story and tell it boldly.” 

The African Development Fund is currently undergoing its 17th replenishment cycle (ADF-17). The next consultative meeting with development partner representatives will be held virtually in September. This will be followed by a meeting in Lusaka, Zambia in October, where the Zambian government will share results and country-level experiences. 

The final pledging session for ADF-17 is scheduled for December 2025.  

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