LUSAKA, Oct. 8 (Xinhua) -- The African Development Bank (AfDB) announced on Wednesday that Africa requires about 1.3 trillion U.S. dollars to achieve the United Nations Sustainable Development Goals.
Nearly half of this amount represents an external financing gap, AfDB President Sidi Ould Tah said at the opening of the Third Meeting of the 17th Replenishment of the African Development Fund (ADF), the bank's concessional financing window, in Lusaka, the Zambian capital.
Tah urged development partners to ratify the ADF charter amendment before the end of the year, which would allow the fund to surpass the 85 percent market borrowing threshold.
"This meeting marks a critical juncture in shaping policy commitments and resource allocations for the 2026-2028 financing cycle," Tah said.
Zambian Acting Minister of Finance and National Planning Charles Milupi called on the bank to leverage complementary financing mechanisms to enhance the scope and impact of ADF-supported initiatives and fast-track Africa's transition toward low-carbon, climate-resilient growth.
Milupi said it is important to tap into resources from the Green Climate Fund, the Global Environment Facility, and other emerging mechanisms to amplify the effectiveness of ADF interventions.
The three-day meeting has convened development partners, recipient countries, and AfDB leadership to chart a path for inclusive growth, climate resilience, regional integration, private-sector development, and governance reforms across the African continent. ■