Luxembourg and African Development Bank deepen partnership to promote Africa’s sustainable growth | News

African Development Bank Group President Dr. Sidi Ould Tah and Luxembourg Finance Minister Gilles Roth have pledged to deepen cooperation as preparations progress for the seventeenth replenishment of the African Development Fund (ADF-17), the Bank Group’s concessional financing window.

The two leaders met on the sidelines of the annual meetings of the World Bank and the International Monetary Fund in Washington, DC in 2025. It was their first official bilateral meeting since Dr. Ould Tah took office in September.

The discussions reaffirmed the long-standing partnership between the two institutions and their shared commitment to multilateral cooperation and Africa’s economic transformation. The talks highlighted Luxembourg’s continued support for sustainable and inclusive growth in Africa’s most vulnerable economies.

Luxembourg remains one of the world’s largest donors of official development assistance, consistently spending 1% of its gross national income on development cooperation – well above the 0.7% target recommended by the United Nations and the OECD Development Assistance Committee. Under ADF-16, Luxembourg’s contribution amounted to €12.7 million, an increase of 10% compared to the previous cycle, reflecting the country’s confidence in the Fund’s impact, particularly in the areas of climate action, governance, gender equality and private sector development.

“Africa’s development needs remain significant, especially 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 to these priorities. We will continue to work with the African Development Bank to strengthen Africa’s investment climate and build a more equitable, resilient and sustainable future.”

Dr. Ould Tah welcomed Luxembourg’s continued support, describing the country as “a steadfast partner” of the African Development Bank Group. “Luxembourg has been a steadfast partner of the African Development Bank Group. Its leadership in sustainable finance and its commitment to effective multilateralism continue to make a real difference across the continent,” the Bank Group President stressed. “As we move towards the ADF-17 pledging session in December, Luxembourg’s partnership will be critical to mobilizing resources that drive resilience, inclusion and shared prosperity, delivering impact far beyond Africa’s borders.”

Luxembourg’s cooperation with the Bank goes beyond concessional financing. The country also contributes to the Bank Group’s Capital Markets Development Trust Fund, where it was one of two founding donors, and to the Africa Digital Financial Inclusion Facility, both aimed at promoting financial innovation, broadening access to markets and strengthening Africa’s private investment ecosystem.

Since its inception in 1972, the African Development Fund has financed nearly 3,000 projects totaling more than $45 billion, connecting communities and improving access to clean energy, food, education and health care in 37 African countries, almost half of which are vulnerable or conflict-affected.

The ADF-17 cycle seeks to mobilize additional resources for transformative investments that create jobs, strengthen resilience and unlock Africa’s economic potential, thereby contributing to global stability and promoting shared prosperity.

Distributed by APO Group on behalf of the African Development Bank Group (AfDB).