The pledging session for the African Development Fund’s 17th replenishment (ADF-17) has concluded in London with historic results. The Fund secured a record $11 billion from 43 partners, the largest in its history, and representing a 23% increase over ADF-16’s $8.9 billion. While the African Development Bank had initially floated an ambitious target of $25 billion in 2024, it was later acknowledged that even matching ADF-16 levels would be considered a major success given the challenging donor landscape. By that measure alone, ADF-17 is being celebrated as a landmark achievement.
And for the first time in the Fund’s history, 23 African countries made their own pledges, with contributions totalling $182.7 million – more than five times higher than in previous replenishments, with 19 countries contributing for the first time. The most significant outcome of ADF-17 is not the total amount but the shift in who is contributing, reflecting broader trends in development finance and Africa’s push towards self-reliance.
Such an outcome may have seemed unlikely given widespread cuts to development spending among traditional donor countries. The United Kingdom, which hosted the pledging session, announced earlier this year that it would reduce aid spending to 0.3% of gross national income by 2027 – the lowest level since 1999.
And the UK was not alone. Germany’s development budget fell to €10.3 billion in 2025, roughly €1 billion less than in 2024. France, grappling with political turmoil and record deficits, has proposed further cuts. And the Trump administration’s gutting of USAID created an estimated $500 million gap for ADF-17 alone.
From replenishment to reform
Amid such donor retrenchment, this unprecedented surge in African participation sends a clear message of political will and regional solidarity. African countries are demonstrating intent to finance their own development, and the five-fold increase in contributions shows that momentum is building.
But while African countries are stepping up, structural constraints at the ADF itself remain. African contributions, while growing, cannot yet substitute for the scale provided by major bilateral donors. At the same time, non-traditional partners face complex bureaucratic hurdles, with the process of becoming an ADF contributor taking up to five years, limiting diversification of the donor base.
Under the new leadership of Dr Sidi Ould Tah, the African Development Bank has an opportunity to accelerate reforms that have long been under discussion. Chief among them is the Market Borrowing Option, a proposed charter amendment that would allow the ADF to access capital markets. If approved by shareholders before the end of the year, this reform could unlock an additional US$4–5 billion per replenishment, effectively tripling the Fund’s impact without tripling donor contributions.
Over the longer term, progress is also needed on the establishment of Africa’s three continent-wide financial institutions, the African Central Bank, African Monetary Fund, and African Investment Bank, which have remained on the drawing board for more than a decade.
Why the ADF matters more than ever
The achievement of ADF-17 in such a difficult geopolitical environment is testament to the AfDB’s determined advocacy, effective coalition-building, and track record of delivery. In 2024 alone, ADF investments helped 2.9 million people gain access to clean water services, connected 500,761 people to electricity, and improved health services for 1.2 million people. This is finance that delivers measurable impact in countries where no other affordable capital is available.
Broader cuts to bilateral aid and an increased focus on global public goods will mean that the poorest countries simply have less finance to channel towards the Sustainable Development Goals. The ADF will become even more of a lifeline as other sources of funding dry up.
The ADF-17 replenishment can be seen as part of a broader shift among traditional donors toward multilateral institutions that offer legitimacy and scale. This was an unprecedented show of support for an African-led institution, shaped by African priorities for addressing our continent’s most pressing challenges.
The choices made now will determine whether this moment becomes a turning point in Africa’s journey toward economic transformation and genuine self-reliance. Let’s use this momentum to continue pushing for the financial reforms that we know will deliver the best outcomes for Africans and the rest of the world.
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