Norway Pledges $300 Million to African Development Fund

Norway has reaffirmed its commitment to Africa's development by pledging 3 billion Norwegian kroner (approximately $300 million) to the African Development Fund (ADF) for the replenishment cycle from 2026 to 2028. This announcement was made in a statement released on Tuesday.

The funding is intended to boost economic resilience, strengthen institutions, and reduce poverty in 37 low-income African countries. Smund Aukrust, Norway's Minister of International Development, stated that this contribution reflects Norway's dedication to sustainable development, job creation, and inclusive growth.

Aukrust described the ADF as a key tool for promoting inclusive growth, government reform, and mobilizing private investment to improve domestic revenue. He also noted that 25 African countries contribute resources to the fund, which has evolved since its establishment in 1972, with the ADF serving as the concessional finance arm of the African Development Bank Group, providing grants and low-interest loans to support infrastructure, energy, agriculture, and industrialization across the region.