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Abidjan, November 12 , 2026 - The African Development Bank Group (AfDB) and France's Agence Française de Développement (AFD) have renewed their development financing partnership for another five years, seeking to expand joint investments in infrastructure, energy, agriculture and private-sector development across Africa.
The two institutions signed a memorandum of understanding covering 2026 to 2031, on the sidelines of the Paris Peace Forum. The agreement builds on a partnership that has supported 17 jointly financed projects across 14 African countries since 2021.
Under the new framework, the institutions intend to work more closely from the early stages of project development, combining financing with technical assistance, project preparation, policy dialogue and institutional capacity building.
The priority areas include energy transition infrastructure, transport, water and sanitation, regional connectivity, agriculture and industrial development. The partnership will also support entrepreneurship, access to finance and job creation, particularly for women and young people.
Other areas identified include critical minerals, pharmaceutical manufacturing, digital infrastructure, data governance, artificial intelligence, climate resilience, biodiversity, healthcare, education and governance.
AfDB President Sidi Ould Tah said the renewed cooperation would help direct capital towards infrastructure that connects markets, strengthens African value chains and creates employment opportunities for the continent's young population.
AFD Chief Executive Officer Christophe Lecourtier described the African Development Bank as the institution's leading financial partner in Africa, saying the two organisations shared an ambition to invest in projects addressing African countries' development priorities while creating opportunities for partners in France and Europe.
Energy remains a major component of the partnership. According to the institutions, the sector accounted for nearly half of their joint financing since 2021.
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AFD has also committed €1 billion to Mission 300, a joint initiative led by the African Development Bank and the World Bank Group, which aims to connect an additional 300 million people in sub-Saharan Africa to electricity by 2030.
The institutions cited several ongoing projects illustrating their cooperation, including solar power developments in Chad, the 88-megawatt Kakono hydropower project in Tanzania and financing for regional transport corridors such as Abidjan-Lagos, Abidjan-Ouagadougou and Lobito.
Their cooperation also extends to private-sector development. In Nigeria, the institutions have jointly financed the Investment in Digital and Creative Enterprises programme, while in Côte d'Ivoire they are supporting initiatives targeting small businesses, industrialisation and employment.
In the health sector, the partnership includes support for South African biopharmaceutical company Biovac to expand local vaccine production and strengthen Africa's pharmaceutical manufacturing capacity.
The renewed agreement also provides for greater use of blended finance, guarantees and other financing instruments to attract additional public and private investment, including through European financial institutions and co-financing platforms.
The partnership builds on a relationship formalised in 2008 and renewed in 2021. France joined the African Development Fund in 1977 and the African Development Bank in 1983.
While the new agreement establishes a framework for closer cooperation, its impact will depend on the projects developed, financing mobilised and implementation across participating countries over the next five years.