The African Development Bank Group (AfDB) President, Dr. Sidi Ould Tah, and Luxembourg’s Finance Minister, Gilles Roth, have reaffirmed their commitment to strengthening cooperation as preparations intensify for the seventeenth replenishment of the African Development Fund (ADF-17) — the AfDB’s concessional financing arm.
The meeting, held on the sidelines of the 2025 World Bank and International Monetary Fund Annual Meetings in Washington, D.C., marked their first official bilateral engagement since Dr. Ould Tah assumed office in September. Discussions centered on advancing multilateral cooperation, deepening Africa–Europe partnerships, and driving inclusive economic transformation across the continent.
Minister Roth commended the AfDB’s leadership in promoting sustainable and inclusive growth, reaffirming Luxembourg’s long-standing support for Africa’s development. “Africa’s development needs remain considerable, particularly in areas such as education, energy, technology, infrastructure, and the fight against climate change,” he said. “Luxembourg’s financial centre, with its expertise in sustainable finance and impact investing, is well positioned to channel private capital toward these priorities.”
Luxembourg has consistently demonstrated global leadership in development assistance, allocating 1% of its gross national income to international cooperation — surpassing the UN and OECD targets of 0.7%. Under ADF-16, Luxembourg’s contribution rose by 10% to €12.7 million, reflecting growing confidence in the Fund’s impact, particularly in governance, gender equality, private sector growth, and climate action.
Dr. Ould Tah described Luxembourg as “a steadfast partner” whose commitment to sustainable finance and effective multilateralism continues to deliver real impact across Africa. “As we move toward the ADF-17 pledging session in December, Luxembourg’s partnership will be key to mobilising resources that drive resilience, inclusion, and shared prosperity — delivering results that extend well beyond Africa’s borders,” he stated.
Beyond concessional funding, Luxembourg collaborates with the AfDB through initiatives such as the Capital Markets Development Trust Fund — where it was a founding donor — and the Africa Digital Financial Inclusion Facility. Both programs aim to boost financial innovation, expand market access, and strengthen Africa’s private investment landscape.
Since its establishment in 1972, the African Development Fund has financed nearly 3,000 projects worth over $45 billion, improving access to clean energy, food, healthcare, and education in 37 African countries — almost half of which are fragile or conflict-affected.
With ADF-17, the AfDB seeks to mobilise fresh resources for transformative investments that generate jobs, enhance resilience, and unlock Africa’s economic potential — reinforcing global stability and shared prosperity.