The African Development Fund, the concessional financing window of the African Development Bank Group (AfDB), has played a leading role in advancing Africa’s development. Established in 1972, the Fund supports 37 low-income countries, nearly half of which are fragile, and conflict affected.
Concessional financing from the African Development Fund (ADF) has been transformative for Zambia’s agriculture and education sectors, while “anchoring peace, prosperity, and regional competitiveness.”
ADF deputies, who are gathered in Zambia’s capital for a meeting on the Fund’s 17th replenishment, visited two project sites on Tuesday, 7 October – the new Nitrogen Chemicals of Zambia (NCZ) fertilizer blending plant in Kafue; and upgraded facilities at the University of Zambia in Lusaka. They were joined by government sector ministers who commended the Fund for its tangible impact.
At Nitrogen Chemicals of Zambia, Agriculture Minister Reuben Mtolo Phiri described the African Development Bank Group as a critical ally of the country, noting its support in helping the country shift from drought to surplus.
Over 9,000 farmers are expected to benefit from approximately $35 million in financing this season from the Zambia Emergency Food Production initiative, while $1.3 million injection from the African Development Fund is setting Zambia on course toward fertilizer self-sufficiency with an expected 40% reduction in fertilizer costs—a game-changer for smallholder farmers.
Source: APO/ photos – African Development Bank Group (AfDB)
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