AfDB and AFD Sign MoU to Enhance Infrastructure Financing

On November 10, the African Development Bank Group (AfDB) and Agence Française de Développement (AFD) signed a memorandum of understanding (MoU) during the Paris Peace Forum. This agreement, effective from 2026 to 2031, aims to strengthen cooperation in infrastructure financing across Nigeria and 13 other African countries.

The partnership builds on previous collaborations that have supported 17 projects since 2021. Under this MoU, both institutions will jointly assess projects, combining financing with technical advice, policy dialogue, and capacity building.

The focus areas include energy transition infrastructure, transport, water and sanitation, agriculture, and job creation, particularly for women and youth. AfDB President Dr Sidi Ould Tah emphasized the importance of collaboration for development, while AFD CEO Christophe Lecourtier noted the agreement's potential to support strategic infrastructure and long-term economic growth.

The partnership also aims to enhance blended finance and attract additional investments through European financial instruments.