A global coalition of donors has pledged $7.06 billion over the next three years to support transformation of African economies and the African Development Bank's High Five priorities. The money will fund development projects and programs in the 38 lower income countries supported by the African Development Fund. President of the African Development Bank Group, Dr. Akinwumi Adesina has said more resources will be committed to support the private sector in the region. The Fund will allocate over $280 million to the Private Sector Credit Enhancement Facility. The facility will leverage approximately $840 million of private sector financing, of which at least 50% will be in higher risk countries
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