By Obinna Uballa
The African Development Bank Group (AfDB) says it is intensifying its push for inclusive, sustainable growth across Africa, unveiling a new $850,000 grant agreement with Invest in Africa (IIA) to boost green job creation in Ghana and Senegal, while also spotlighting the role of its concessional financing arm, the African Development Fund (ADF), in driving long-term economic change.
The grant, financed through the Bank’s Fund for African Private Sector Assistance (FAPA), is expected to offer support to the MicroGREEN project, titled “Strengthening Women, Youth, and People with Disabilities’ Micro-Entrepreneurship for Green Jobs in Natural Resources.
The initiative is believed to target the agroforestry, fisheries, and biodiversity conservation sectors, aiming to create up to 500 green jobs and integrate micro-enterprises into sustainable value chains.
Alongside FAPA’s contribution, the project, according to its drivers, is projected to draw on an earlier $1 million grant from the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, supporting implementation over two years.
The program focuses on delivering high-quality entrepreneurship training, tailored business development services, and mentorship to marginalized groups often excluded from Africa’s green economy.
“These sectors are central to climate-resilient employment, but women and youth remain underrepresented,” AfDB officials said. “Increasing their participation can accelerate inclusive growth and strengthen ecosystem management across the continent.”
Recall that FAPA, with the Government of Japan as its primary donor, has funded over 100 projects in 38 countries, committing more than $80 million to improve business environments and strengthen SMEs. Invest in Africa will implement the project, leveraging its experience in market access, skills development, and financing support for small businesses.
The announcement comes as the AfDB said it is using a high-profile briefing to highlight the wider impact of the African Development Fund, which serves 37 low-income countries, nearly half in fragile situations. Speaking during a virtual African Transformation Briefing on July 29, Valerie Dabady, Manager of Resource Mobilization and Partnerships at the Bank, underscored the Fund’s $45 billion investment record since inception and its evolving role in financing climate resilience, infrastructure, and regional integration.
“With 37 member countries, the ADF is a cornerstone of Africa’s development financing architecture,” Dabady said. “As we look toward the future, innovations like market borrowing and expanded donor engagement will be critical to increasing our impact.”
Participants at the briefing also discussed expanding donor partnerships, accessing capital markets, and raising the ADF’s public profile. Kerezhi Sebany of the ONE Campaign urged stronger storytelling around the Fund’s successes, saying: “When people know what the ADF is and what it delivers, it fosters transparency, trust, and partnership. Now is the time to tell the ADF story boldly.”
The ADF says it is currently undergoing its 17th replenishment cycle (ADF-17), with upcoming consultative meetings scheduled for September and October, including a country experience-sharing session in Lusaka, Zambia.
