Donors to announce financing package for Africa’s low-income countries

Donor governments would meet on December 4 – 5 in Centurion, South Africa, to conclude the 15th Replenishment of the African Development Fund (ADF) with a financing package for Africa’s low-income countries for the period 2020-2022.

A release copied to the Ghana News Agency said representatives of beneficiary countries would also participate in the deliberations, focusing on the needs of ADF countries and measures to address them.

It said over the past 45 years, the African Development Fund had played a central role in providing concessional resources to low-income countries while demonstrating clear value for money to both donors and recipients.

The Fund has also provided catalytic financing and policy advice to help countries deliver essential services to accelerate growth and protect vulnerable communities.

It has changed the lives of millions of Africans, making the ADF a trusted and strategic partner for all its stakeholders.

The Strategic Pillars of ADF-15 include providing quality and sustainable infrastructure to support economic transformation and promote regional integration; and delivering human, governance and institutional capacity to promote inclusive growth and decent jobs.

The ADF would scale up support to the most vulnerable and give special attention to cross-cutting issues such as gender mainstreaming, climate change, governance, private sector development and job creation.

Source: GNA

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