AfDB: Morocco decides to contribute to ADF

The Minister of Economy and Finance, Nadia Fettah, Governor of the AfDB Group for Morocco, announced Monday in Tangier, Morocco’s decision to contribute to the 16th replenishment of the resources of the African Development Fund ( ADF-16), the concessional window of the African Development Bank Group (AfDB).

“This decision reiterates the Kingdom’s will and commitment to African countries in accordance with the enlightened vision of His Majesty the King for a united and prosperous Africa”, noted Nadia Fettah, in a speech read on her behalf by the Minister of Industry and Trade, Ryad Mezzour during the opening of the fourth and final meeting of the sixteenth replenishment of ADF resources.

In this context, the Minister called on the development partners, despite the difficult context, to generously increase the means of the ADF within the framework of this 16th replenishment of its resources.

“Given the specificity of the context and the magnitude of the challenges facing our continent, in particular the most vulnerable countries, the Kingdom of Morocco considers that the time has come for African countries to join in the efforts of the classic donors of the ADF to support the beneficiary countries of the Fund to accelerate their development and strengthen their resilience to better face the challenges that continue to follow one another”, she noted.

“The importance of supporting low-income African countries no longer needs to be demonstrated”, she stressed, adding that support for these countries, particularly impacted by the consequences of the multiple crises affecting the world and the continent in particular, must continue and be further strengthened.

According to Nadia Fettah, the ADF is a relevant, effective and innovative instrument that is able to provide an adequate response to the needs of the most vulnerable African countries.

“A more resourced African Development Fund would significantly increase its contribution to the achievement of the African Union’s Agenda 2063, the Sustainable Development Goals and Africa’s climate change commitments,” said supported the Minister.

In this regard, she welcomed the consecration of climate adaptation as an overall prism of ADF-16 priorities and operations, alongside the prism relating to fragility, in recognition of the growing impact of the climate on lives and livelihoods of people in ADF countries.

Inaugurated in the presence of Akinwumi A. Adesina, President of the AfDB Group, this meeting provides an opportunity to deepen the discussion on issues facing low-income African countries, including climate finance and adaptation and sustainable debt management.

During these conversations, the parties will discuss political and financial orientations as well as approaches to deal with them. The process will thus lead to a financing package for the three years of the ADF-16 cycle (2023-2025).

At this fourth replenishment meeting, the ADF-16 report, financing levels and conditions for the replenishment will also be approved.

This year was marked by a series of consultations between ADF Management and donor countries on the Sixteenth Replenishment of the AfDB Group’s concessional lending window.

The Fund, which is celebrating its 50th anniversary, has invested $45 billion across the continent, through the implementation of around 2,800 projects in various sectors, including infrastructure, gender, climate change , governance, private sector development and resilience.

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