LAGOS, Nov 15 – The African Development Bank Group (AfDB) and the Japan International Cooperation Agency (JICA) have signed a JPY 86.6 billion ($583.4 million) concessional loan agreement to support the African Development Fund’s seventeenth replenishment (ADF-17), strengthening access to affordable development financing for the continent’s lowest-income countries.
The agreement was signed in Tokyo on November 13 by AfDB Group President Dr Sidi Ould Tah and JICA President Dr Akihiko Tanaka. It represents JICA’s largest-ever official development assistance financing support to the African Development Fund.
The financing fulfils a commitment made by Japan’s Ministry of Finance during the ADF-17 replenishment pledging session in December 2025. It will support investments in essential infrastructure, energy access, food security and regional integration, while helping eligible countries address development constraints and expand economic opportunities.
“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.” Tanaka said
Ould Tah said ADF-17 had mobilised a record $11 billion from 44 partners, adding that the Bank’s ambition extended beyond increasing the Fund’s resources to changing how development finance is mobilised and deployed across Africa.
“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,” he said.
Japan’s Deputy Vice Minister for International Affairs, Kazuki Watanabe, said the country expected ADF-17 to deliver tangible results through expanded quality infrastructure, stronger governance and institutional capacity, and improved sustainable debt management.
The new loan complements Japan’s previous contributions to the Fund, including grants and compensation under the Multilateral Debt Relief Initiative, which together amount to approximately $600 million.
The Tokyo signing followed a ceremony on November 5 at the AfDB Group’s headquarters in Abidjan, Côte d’Ivoire, where the Bank’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 to formalise Japan’s financing commitment to ADF-17.
Japan joined the African Development Fund in 1973 and the African Development Bank in 1982. Its partnership with the institutions spans concessional financing, private-sector investment, human capital development, technical assistance and knowledge exchange.
ADF-17 introduces new financing instruments
The seventeenth replenishment also marks a shift towards a more investment-driven financing model, with the Fund introducing concessional donor loans alongside a new market borrowing framework.
The instruments are intended to leverage existing donor contributions, mobilise additional capital and expand the resources available for long-term development financing in eligible countries.
Established in 1972, the African Development Fund is the concessional financing arm of the AfDB Group. It provides grants and low-interest loans to eligible African countries to support economic and social development.
The inclusion of donor loans and market borrowing within ADF-17’s financing structure is designed to increase the Fund’s capacity to support development priorities while maintaining access to affordable funding for countries with limited financing options.
