The African Development Fund, the concessional arm of the African Development Bank Group, has raised a record 11 billion US dollars for its seventeenth replenishment, achieving the largest funding round in its history despite tightening global aid budgets.

The ADF seventeen replenishment represents a 23 percent increase from the previous cycle, with pledges concluded in London after a year-long process co-sponsored by the United Kingdom and Ghana.

African countries played a larger role in the latest round. 23 African states pledged a combined 182.7 million US dollars, a fivefold rise from the previous replenishment, with nineteen countries contributing for the first time.

Partners also endorsed changes to the Fund’s financial model, allowing it to leverage its balance sheet, deploy hybrid capital, and use concessional resources to absorb risk and attract private investment. The Bank Group said each dollar provided through the Fund currently mobilises more than 2.50 US dollars in co-financing and private capital.

The replenishment was reinforced by large-scale co financing commitments, including up to 800 million US dollars from the Arab Bank for Economic Development in Africa and up to 2 billion US dollars from the OPEC Fund for International Development.

Funds mobilised under ADF seventeen will support thirty seven low income and fragile African countries, focusing on energy access, food systems, human capital, regional integration, and resilient infrastructure.

UK Minister of State for International Development and Africa Jenny Chapman said the United Kingdom was proud to co host the replenishment with Ghana, while Ghana’s Deputy Minister of Finance Thomas Nyarko Amprem described the Fund as a key instrument for reducing vulnerability across the continent.

The African Development Bank Group said the outcome reflects continued partner confidence in the Fund despite global economic uncertainty.