AfDB Targets $800 Million for Mali Development Strategy

The African Development Bank Group plans to mobilise 800 million US dollars by 2031 to finance infrastructure and development priorities in Mali, as the lender and the International Monetary Fund discuss the country’s economic outlook and reform needs.

The financing target is set out in the bank’s 2026-2031 Country Strategy Paper, approved in April, which prioritises resilient infrastructure in agriculture, transport and energy. The strategy is intended to support Mali’s 2024-2033 National Strategy for Emergence and Sustainable Development.

Officials from the two institutions met in Bamako on Tuesday to discuss their assessments of the economy, the government’s investment priorities and reforms needed to support long-term structural change.

Cédric Achille Mbeng Mezui, the AfDB’s country manager for Mali, met Ivohasina Fizara Razafimahefa, the IMF’s mission chief for the country, who led a delegation on a courtesy visit to the bank’s office.

The discussions come as the AfDB plans to expand financing for infrastructure and explore further private-sector operations, with an emphasis on job creation for young people.

The bank’s indicative operational programme for 2026-2028 comprises five sovereign operations worth a combined 419.37 million US dollars. The programme covers part of the strategy’s planned interventions, with potential for additional investment through private-sector projects.

The AfDB is also identifying opportunities in financial services and has established a formal consultation framework with Mali’s National Employers’ Council to strengthen engagement with businesses. Its work includes efforts to mobilise the Malian diaspora to invest in productive sectors, including by mapping diaspora communities and identifying promising industries and value chains.

“The new Country Strategy Paper provides us with a framework to mobilise more financing, develop resilient infrastructure and deepen our engagement with the private sector,” Mbeng Mezui said.

Razafimahefa said dialogue between development partners helped the IMF understand planned financing and coordinate support for the country’s priorities.

The AfDB has approved about 117 projects worth approximately 4.3 billion US dollars in Mali since beginning operations there in 1974. It currently has 15 active projects in the country, 14 of them in the public sector, with total commitments of about 478 million US dollars.

The institutions said they would continue to identify reforms to support Mali’s structural transformation in line with the country’s Mali Kura 2063 Vision and national development strategy.

Source: FSX Business News