African Development Fund Replenishment: Ghana, Liberia, Others Triple Contributions to $16 Million
In a strong demonstration of African solidarity and commitment to home-grown development, Ghana, The Gambia, Liberia, Sierra Leone, and Sudan have pledged a combined $16 million to the next replenishment cycle of the African Development Fund (ADF), the concessional financing window of the African Development Bank (AfDB).
The pledge, formalized during a constituency meeting on the sidelines of the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire, represents a more than threefold increase over the $5 million pledged during the previous replenishment cycle. It marks a 220% surge in contributions and the first time all five member countries of the constituency are contributing to the Fund.
Ghana led with a $5 million commitment, while Sudan, Liberia, and Sierra Leone each pledged $3 million. The Gambia followed with $2 million.
The latest pledges increase the number of African contributors to the ADF from 8 to 13, reflecting a 62.5% rise in African participation and a shift towards greater ownership of the continent’s development financing agenda.
Outgoing Sierra Leonean Finance Minister, Sheku Bangura, who chaired the constituency, and Executive Director Rufus Darkortey, were both recognized for their roles in deepening engagement with the AfDB, driving reform dialogue, and improving access to concessional resources.
“The increase in contributions sends a powerful signal that Africa is no longer a passive recipient of aid but a proactive investor in its development future,” Mr Bangura said.
The five countries have all implemented far-reaching reforms in fiscal management and governance, aligning with the AfDB’s evolving operational focus on performance, accountability, and catalytic financing.
Ghana, for instance, has leveraged digital tools to enhance tax compliance and broaden the revenue base. The Gambia has doubled its tax-to-GDP ratio in just two years, while Liberia has been selected to pilot the Bank’s flagship Youth Entrepreneurship Investment Bank (YEIB) initiative. Sierra Leone and Sudan continue to benefit from targeted Bank support in infrastructure and crisis response.
Ghana’s new Finance Minister, Dr Cassiel Ato Forson, and Liberia’s newly appointed Finance Minister, Augustine Kpehe Ngafuan, are expected to drive the next wave of reforms and strategic positioning within the constituency.
Looking ahead, the countries pledged to deepen domestic resource mobilisation, reduce reliance on donor aid, and harness private capital and remittance flows as sustainable financing tools. The transition of eligible countries from ADF financing to the Bank’s non-concessional window also forms part of their medium-term strategic outlook.
“We must now anchor domestic resource mobilisation and private sector development at the core of our national strategies,” Mr. Bangura added, calling for continued unity and reform ambition within the constituency.
The collective pledge and reform agenda, according to AfDB officials, serve as a model for African-led development and send a strong message to the international community about the continent’s readiness to finance and shape its own growth trajectory.
