The African Development Bank Group (AfDB) and Luxembourg have pledged to deepen cooperation in support of Africa’s sustainable and inclusive growth, ahead of the seventeenth replenishment of the African Development Fund (ADF-17).
The commitment was made during a bilateral meeting between AfDB President Dr. Sidi Ould Tah and Luxembourg Finance Minister Gilles Roth on the sidelines of the 2025 World Bank and IMF Annual Meetings. It was the first official meeting between the two leaders since Dr. Ould Tah assumed office in September.
The discussions reaffirmed Luxembourg’s longstanding partnership with the AfDB and highlighted its continued support for Africa’s most vulnerable economies. Luxembourg remains one of the world’s top contributors of development assistance, consistently allocating 1% of its GNI to development projects—well above the UN-recommended 0.7%. Under the previous funding cycle, ADF-16, Luxembourg contributed €12.7 million, a 10% increase from prior cycles, with a focus on climate action, governance, gender equality, and private sector development.
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“Africa’s development needs remain considerable, particularly in areas such as education, energy, technology, infrastructure and the fight against climate change,” said Minister Roth. “Luxembourg’s financial centre, with its expertise in sustainable finance and impact investing, is well placed to channel private capital toward these priorities. We will continue working alongside the African Development Bank to strengthen Africa’s investment environment and build a more equitable, resilient, and sustainable future.”
Dr. Ould Tah described Luxembourg as “a steadfast partner” of the AfDB, emphasizing its leadership in sustainable finance and multilateral cooperation. He noted Luxembourg’s partnership will be crucial for mobilizing resources during the ADF-17 pledging session in December, supporting transformative investments across the continent.
Beyond concessional financing, Luxembourg contributes to initiatives like the Capital Markets Development Trust Fund and the Africa Digital Financial Inclusion Facility, aimed at promoting financial innovation, broadening market access, and strengthening Africa’s private investment ecosystem.
Since its creation in 1972, the African Development Fund has financed nearly 3,000 projects worth over $45 billion, improving access to clean energy, food, education, and healthcare across 37 African countries, nearly half of which are fragile or conflict-affected. The ADF-17 cycle seeks to mobilize additional resources to create jobs, strengthen resilience, and unlock Africa’s economic potential, contributing to global stability and shared prosperity.
