Africa’s $400 billion funding gap tops AfDB agenda

The AfDB said the continent required huge investments in infrastructure, energy, food security, climate adaptation and job creation.

News Agency of Nigeria • May 24, 2026

African Development Bank (AfDB) building (Credit: African Development Bank)

The African Development Bank (AfDB) Group says it will focus on tackling Africa’s widening development financing gap amid growing global economic fragmentation.

According to the bank, more than 3,000 delegates are expected in Brazzaville, Republic of Congo, from May 25 to May 29 for its 2026 annual meetings, where the funding gap and other issues will be discussed.

The AfDB said the meetings would mark its 61st and the 52nd meeting of the African Development Fund (ADF).

It said delegates from the bank’s 81 member countries would deliberate with the theme: “Mobilising Africa’s Development Financing at Scale in a Fragmented World.”

The AfDB said the theme reflected growing concerns over declining aid flows, rising borrowing costs and tightening global financial conditions.

According to the AfDB, Africa currently faces an annual development financing gap estimated at $400 billion.

It said the continent required huge investments in infrastructure, energy, food security, climate adaptation and job creation.

“This year’s meetings will be the first under the leadership of Sidi Ould Tah, who assumed office in September 2025.

“One of Tah’s early achievements is securing an $11 billion replenishment for the African Development Fund in December 2025.

“The concessional fund supports low-income and fragile African countries through grants and soft loans.

“With 24 African countries pledging about $182.7 million toward the replenishment process ,” it said.

The bank said a major focus in Brazzaville would be the New African Financial Architecture for Development (NAFAD).

According to the AfDB, the initiative seeks to mobilise Africa’s estimated $4 trillion in pension funds and sovereign wealth assets.

The NAFAD was endorsed by the African Union (AU) leaders during a summit in Addis Ababa in February 2026.

The framework aims to strengthen Africa’s financial sovereignty and expand investments in infrastructure and small businesses.

Heads of state, finance ministers, central bank governors and private sector leaders are expected at the meetings.

The meetings will also feature policy dialogues, consultative sessions and knowledge-sharing events.

A major highlight will be the inauguration of the 2026 African Economic Outlook report on May 26.

The report provides economic forecasts and policy analysis for African countries and regions.

It is regarded as one of Africa’s leading economic reference publications for governments, investors and development institutions.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.