U.S. President Donald Trump announced the decision to slash $555 million in funding to the African Development Fund (ADF)
The Trump Administration plans to cut America’s contribution to the African Development Fund, the concessional arm of the African Development Bank (AfDB), creating a funding gap of $555 million.
The move, part of broader foreign aid reductions, was confirmed in a proposal submitted to Congress on May 5, with the White House stating the ADF is “not currently aligned” with U.S. priorities.
The U.S., the second-largest shareholder in the AfDB with 6.5% voting shares, has supported the fund since 1976.
Nigeria, which also holds the largest share at 9%, and other African nations may need to step in to address the shortfall.
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The African Development Fund (ADF), part of the African Development Bank (AfDB), provides concessional funding to Africa’s least developed countries.
