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PM announces Canada fulfills commitment to replenish African Development Fund
11 November 2010
Seoul, Korea
Prime Minister Stephen Harper today announced that Canada will support economic and social development in Africa by replenishing the African Development Fund in keeping with its G-20 commitment."By supporting the African Development Fund we are fulfilling a commitment made at the Toronto G-20 Summit," said the Prime Minister. "Development assistance to Africa is an ongoing priority for Canada, and replenishing the Fund helps the African Development Bank continue to play its role as the leading African development institution."
Established in 1972, The African Development Fund contributes to the promotion of economic and social development in 38 least developed African countries by supporting projects and programs, as well as technical assistance for studies and capacity-building activities. The Fund is administered by the African Development Bank. Canada supports the Fund’s priorities of infrastructure, governance, regional integration and support for fragile states. It places special emphasis on African private sector development, food security and agricultural productivity, and the incorporation of climate change adaptation and mitigation into the Fund’s work.
In the Toronto Summit Declaration, Prime Minister Harper and the other G-20 leaders committed to ensure an ambitious replenishment for the concessional lending facilities of the multilateral development banks, including the African Development Fund.
