Finance

African Development Bank Group and French Development Agency sign €2 billion co-financing partnership

The agreement was signed on Wednesday this week on the sideline of the Paris Peace Forum. Photo: AfDB

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On the sideline of the Paris Peace Forum this week, the African Development Bank Group (AdFB) and French Development Agency (AFD) have signed a €2 billion co-financing partnership agreement for Africa.

The agreement covers the 2021-2026 period and targets €2 billion in the first three years only to complement the current partnership between both institutions. The existing partnership already covers such key sectors as infrastructure, water and sanitation, agriculture, and the private sector.

The new agreement supersedes an earlier framework agreement signed in November 2015.

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