AfDB, African Deposit Funds Partner to Mobilise Long-Term Financing for Development
The African Development Bank Group and members of the African Forum of Deposit Funds have agreed to deepen cooperation aimed at mobilising long-term financing for development, productive investment and economic growth.
The agreement is contained in a statement released on the bank’s website on Thursday in Abuja, outlining a framework for stronger institutional collaboration to support Africa’s development agenda and long-term prosperity.
According to the AfDB, the partnership seeks to support productive investment, strengthen economic resilience and contribute to more inclusive growth across the continent through coordinated financing strategies, targeted investments, and policy alignment.
The institutions said the cooperation would help coordinate responses to geopolitical and economic uncertainties, climate-related disruptions, global shocks and market dependencies, while enhancing collective capacity to manage risks and sustain development.
They also identified socioeconomic divides as challenges requiring coordinated responses, emphasising that stronger institutional cooperation would help bridge gaps, promote inclusion, strengthen resilience, and advance shared prosperity across African countries sustainably.
The partners said the framework respected institutional diversity and complementary mandates, while directing joint efforts towards high-potential sectors capable of accelerating economic transformation, innovation, competitiveness, and sustainable development outcomes across Africa.
According to them, the alliance will leverage the complementary strengths of the AfDB Group and African members of the African Forum of Deposit Funds to expand development financing opportunities continent-wide.
They said the partnership would facilitate long-term resource mobilisation, support financing solutions tailored to Africa’s development priorities, and strengthen investment mechanisms that addressed infrastructure, industry, agriculture, and social development needs effectively.
“In a context marked by global economic uncertainty and the need to mobilise more resources for development, no institution can act alone,” Attout said, underscoring the importance of partnerships for progress.
He said stronger cooperation would create conditions for more effective mobilisation of long-term financing for Africa’s economic transformation, job creation, resilience and sustainable growth, while supporting countries confronting evolving development challenges.
Maryse Lokossou, Managing Director of Caisse des Dépôts et Consignations du Bénin and Chair of the African Forum of Deposit Funds, highlighted deposit funds’ strategic role in advancing development financing efforts.
She said African deposit funds had a unique capacity to mobilise long-term savings for national development, while combining their expertise and investment capacity with those of the AfDB to accelerate impact.
“The initiatives will support productive investment, entrepreneurship and job creation across African economies. The cooperation will also focus on knowledge sharing, institutional capacity development and promoting solutions that strengthen resilience continent-wide.”
The partners said the approach would strengthen investments and cooperation frameworks aligned with national and regional development priorities, ensuring resources were deployed effectively to support sustainable growth, integration, and prosperity goals.
They said the partnership reflected a shared commitment to sustainable and inclusive development and an inclusive, predictable African financial system, while advancing the New African Financial Architecture for Development through collaboration #AfDB, African Deposit Funds Partner to Mobilise Long-Term Financing for Development# AfDB Launches $5.1bn Response Plan to Offset Energy, Fertiliser Shock
