Glass half full

AfDB: ADF receives record three-year $8.9bn budgetary envelope

By Joël Té-Léssia Assoko

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Posted on December 13, 2022 12:00

Akin Adesina in Tangier, 7 December 2022. © African Development Bank Group

Donor countries have approved a three-year $8.9bn budgetary envelope. Although this is a record amount, it falls well below African leaders’ expectations.

“We are leaving Tangier with great enthusiasm,” said Akinwumi Adesina, president of the African Development Bank (AfDB), on 6 December in his closing speech at the pledging meeting for the 16th replenishment of the African Development Fund (ADF).

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