The African Development Bank Group and the Japan International Cooperation Agency JICA signed a landmark concessional loan agreement in October worth 51.67 billion Japanese yen 421 million to support the African Development Fund ADF. This funding, which fulfills Japans pledge for the sixteenth and current general replenishment of the ADF, will support transformative projects in the continents least developed and fragile states.
The loan amount represents the largest funding by any donor in this replenishment cycle, which has received a record 8.9 billion in donor pledges. Notably, Japan also contributed the largest loans to the fourteenth and fifteenth replenishments of the ADF, cementing its position as one of the Funds top donors.
We wouldnt have had a successful ADF-16 replenishment without Japans continued support for concessional donor lending. It is important to sign these agreements, but it is the lives we touch that matter. We deliver what we promise. We keep our word, said African Development Bank President Akinwumi Adesina at the signing ceremony in Japan.
He underlined the substantial development impact of projects completed under the ADF, noting that this year alone, half a million people have been connected to electricity, one million have gained access to water and sanitation, 2.5 million have benefited from improved transport, and 2.7 million have received access to health services.
Daiho Fujii, Deputy Vice Minister of the Finance Ministry expressed optimism that Japans concessional donor loan, together with grant contributions, would support African countries to address various challenges relating to climate change, lack of infrastructure and fragility.
