Press releases, 17.05.2023

Switzerland is contributing CHF 212 million to the 16th replenishment of the African Development Fund (ADF). The funds are deployed in the 37 poorest countries in Africa to fight poverty and climate change. They are intended to help achieve the goals set out in the 2030 Agenda for Sustainable Development. On 17 May, the Federal Council also decided that Switzerland would contribute CHF 27.5 million towards the Multilateral Debt Relief Initiative (MDRI).

The current global crises are hitting the poorest African countries particularly hard. Without international support, there is a threat of further setbacks. The African Development Bank (AfDB) fund supports the 37 poorest African countries. Between 2023 and 2025, it will invest USD 8.8 billion in improving economic framework conditions, developing the private sector, addressing the impact of climate change and supporting fragile and conflict-affected countries.

Switzerland is contributing CHF 212 million towards these efforts, CHF 15 million of which will go towards a newly created climate initiative. In addition, Switzerland is continuing its commitment to the Multilateral Debt Relief Initiative (MDRI), which has been in place since 2005, by contributing CHF 27.5 million. Thanks to this initiative, over-indebted countries do not have to repay their AfDB loans if they implement certain reforms.

Switzerland's contribution sends an important signal of solidarity with Africa's poorest countries and so underlines the continent's importance to Switzerland in terms of its development policy, foreign policy and foreign economic interests.

Switzerland is a longstanding member of the African Development Bank and plays an active part in shaping its strategic orientation and programmes through its representation in the governing bodies. It supports the ADF within the framework of the International Cooperation Strategy 2021-2024.

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Last update 19.07.2023

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