The African Development Bank has announced plans to create a Pan-African Financial Coordination Platform aimed at improving synergy among African financial institutions and ensuring more efficient use of development capital.
The initiative was revealed by the AfDB President after a consultative meeting with regional development finance institutions, following earlier engagements with African securities exchanges as the Bank works toward a unified framework.
He noted that African countries need substantial resources to meet their development ambitions, making closer collaboration among DFIs essential. He added that regional DFIs, being closest to communities and project beneficiaries, must have stronger capital bases so they can deliver effectively on their mandates.
A task force will be established to address issues raised during consultations, with priorities including de-risking approaches, strengthening equity, improving access to concessional finance, and providing liquidity support.
The AfDB leadership is also expected to engage private sector leaders and global rating agencies in London in mid-December shortly after the final session of the African Development Fund’s seventeenth replenishment.
Executives from key regional DFIs participated in the meeting, including institutions from West, East, Southern, and Central Africa. The head of one regional bank called for new stabilising tools such as standby liquidity mechanisms and callable capital guarantees, noting that multilateral banks like the AfDB have the capacity to lower financing costs and expand development impact.
The President of the West African Development Bank highlighted how political instability in parts of West Africa has weakened credit ratings. He stressed that the AfDB’s AAA rating remains crucial for restoring confidence and stabilising markets, while also emphasising the need to avoid duplicating efforts and to clearly define institutional roles.
The leader of the ECOWAS Bank for Investment and Development also underscored the importance of stronger coordination among DFIs, saying expanded co-lending and syndication arrangements would allow larger institutions to support smaller ones and increase Africa’s development financing capacity.
The meeting comes just a week after the AfDB approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund to support sustainable infrastructure projects across the continent.
According to a statement by the Bank, the financing package aims to unlock private capital and accelerate investments in renewable energy, transportation, digital connectivity, and other priority sectors.
