The African Development Bank Group (AfDB) and France’s Agence Française de Développement (AFD) have signed a new five-year memorandum of understanding (MoU) covering 2026 to 2031, aimed at expanding infrastructure financing, strengthening economic development and accelerating investment across Africa.
The agreement builds on an existing partnership that has supported 17 jointly financed projects across 14 African countries since 2021. It was signed on November 10, on the sidelines of the Paris Peace Forum, as both institutions seek to deepen cooperation in mobilising capital for projects addressing the continent’s development priorities.
Under the new framework, AfDB and AFD will collaborate from the early stages of project development through financing and implementation. This will involve jointly assessing potential investments, supporting project preparation, providing technical advice, facilitating policy dialogue and strengthening institutional capacity.
The partnership will also improve coordination in project management, monitoring and knowledge transfer, with the objective of developing a stronger pipeline of investment-ready projects across African economies.
The renewed agreement identifies several priority areas, including energy transition infrastructure, transportation, water and sanitation, regional connectivity, agriculture, industrial development and private-sector financing.
Other areas of cooperation include critical minerals, pharmaceutical manufacturing, digital infrastructure, data governance and the responsible application of artificial intelligence. The institutions will also support climate resilience, biodiversity protection, healthcare, education and governance initiatives.
A major component of the partnership will be expanding access to finance and supporting job creation, particularly for women and young people. Both institutions intend to use their combined financial resources and technical expertise to encourage private-sector participation and strengthen African value chains.
AfDB President, Dr Sidi Ould Tah, said the renewed cooperation would help direct capital towards infrastructure development, stronger regional markets and employment opportunities for Africa’s growing youth population.
AFD Group Chief Executive Officer, Christophe Lecourtier, described the agreement as an important step in the institutions’ longstanding relationship. He emphasised the need to scale up financing for strategic infrastructure, particularly in energy and transportation, to support industrial development and long-term economic growth.
