The African Development Bank Group (AfDB) and the Japan International Cooperation Agency (JICA) have inked a JPY 86.6 billion (about $583.4 million) concessional loan agreement to support the African Development Fund’s seventeenth replenishment (ADF-17).
The loan expands access to affordable development financing for Africa’s lowest-income countries. It also underscores Japan’s longstanding support for the Fund and its role in helping ADF-17 scale up financing for countries facing some of the continent’s most pressing development challenges.
Bank Group President Dr Sidi Ould Tah and JICA President Dr Akihiko Tanaka signed the agreement in Tokyo on 13 Nov.
Dr Tanaka said: “This financing demonstrates the strength of the partnership between JICA and the African Development Bank Group, and our shared commitment to Africa’s development. As JICA’s largest-ever ODA financing support to the African Development Fund, it reflects our confidence in ADF-17’s ability to help African countries address pressing, interconnected challenges while advancing resilient, inclusive and sustainable development.”
Dr Ould Tah said: “ADF-17 mobilised a record $11 billion from 44 partners. But our ambition goes beyond replenishing resources. Through the New African Financial Architecture for Development, we are transforming how Africa mobilises and deploys development finance.”
The loan fulfils a commitment made by Japan’s Ministry of Finance during the ADF-17 replenishment pledging session in December 2025. It complements Japan’s contributions to the Fund, including grants and compensation under the Multilateral Debt Relief Initiative, which together total approximately $600 million. The financing will support investments in essential infrastructure, energy access, food security and regional integration, while helping to expand economic opportunities.
Kazuki Watanabe, Deputy Vice Minister for International Affairs at Japan’s Ministry of Finance, added: “Japan expects ADF-17 to deliver tangible results by expanding quality infrastructure, strengthening governance and institutional capacity, and promoting sustainable debt management.”
The signing follows a ceremony held on 5 November at the Bank Group’s headquarters in Abidjan, Côte d’Ivoire, where the Bank Group’s Vice-President for Finance and Chief Financial Officer Hassatou Diop N’Sele and Japan’s Ambassador to Côte d’Ivoire Junji Gomakubo signed and exchanged official diplomatic notes. The exchange marked a key step towards formalising Japan’s financing commitment to ADF-17.
Japan joined the African Development Fund in 1973 and the African Development Bank in 1982. The partnership spans concessional financing, private sector investment, human capital development, technical assistance and knowledge exchange.
The ADF-17 replenishment marks a shift towards a more investment-driven financing model. Through innovative financing instruments, including concessional donor loans and a new market borrowing framework, the Fund aims to leverage its resources and mobilise additional capital. This approach is designed to make each contribution go further, expanding access to affordable, long-term development financing for eligible countries.
Established in 1972, the African Development Fund is the concessional financing arm of the African Development Bank Group. It provides grants and low-interest loans to eligible African countries to support economic and social development.
