Inside AfDB's $10.8 billion project pipeline

In 2023, the African Development Bank approved projects worth roughly $10.76 billion, according to figures from its annual report. These numbers are the bank’s second-highest recorded figures for a calendar year, behind only the $10.8 billion approved in 2009, which was primarily in response to the global financial crisis. The bank records its financials in UA, or unit of account, which is similar to the Special Drawing Rights of the International Monetary Fund. In 2023, the estimated conversion rate was UA1 = $1.34. All figures mentioned in this analysis used this conversion rate unless stated otherwise. Using the bank’s MapAfrica data portal, Devex extracted more detailed information on which projects were approved in 2023 and where the money went. However, the bank data portal does not contain information on all approved projects. It lists 180 projects approved in 2023 worth $8 billion. Most of these projects are already in the “ongoing” status while the others are still in the “approved” status. Only a handful of projects were completed while one was canceled. The bank said the gap between the annual report and the MapAfrica portal is due to its private sector instruments, such as equity investments and guarantees. These are located on a separate data platform which is not currently public. Development priorities The bank has five development priorities, which it refers to as the High 5s. These priorities guide the bank in approving projects aligned with the United Nations Sustainable Development Goals, or SDGs. The High 5s are to: “Light Up and Power Africa,” “Feed Africa,” “Industrialize Africa,” “Integrate Africa,” and “Improve the Quality of Life for the People of Africa.” In 2023, the bank poured the most funding into the last High 5 — improving the quality of life of people in Africa — approving 84 projects worth $3.2 billion. The second-most funding went to integrating Africa, with 18 projects worth $2 billion; and then industrializing Africa, with 20 projects worth $1.2 billion. In relation to the High 5s, the bank also classified projects into 11 different sectors. The sector that got the most approvals is the transport sector, with 17 projects worth almost $2 billion. Projects tagged as “multi-sector” came in second with 43 approvals worth $1.5 billion, and then water supply and sanitation projects followed with $917.5 million. Where did AfDB spend its money? Regionally, the bank approved the most funding for projects in Southern Africa, with 29 projects worth $1.9 billion. The West African region has the most approved projects: 38 worth $1.6 billion, which is followed by East Africa with 35 projects worth $1.4 billion. There are also projects that are not tagged to a specific region that are worth $1.3 billion. North Africa comes next with 21 approved projects worth $1.2 billion and then Central Africa with 21 projects worth $553.3 million. The country that received the most funding is Morocco, having six approved projects worth $700.7 million, followed by Namibia with one project worth $582.4 million, Mauritius with four projects worth $513.4 million, Nigeria with six projects worth $424.3 million, and then Rwanda with five projects worth $374.9 million. There are also 41 projects that are to take place in multiple countries, tagged as “multinational,” worth $1.3 billion. Project highlights Below are three projects that are currently in the “completion” status: • $79.6 million — Competitiveness and Economic Recovery Support Programme in Kenya. • $33.6 million — Governance and Economic Reforms Support Program in Seychelles. • $503,732 — Emergency aid in response to Cyclone Freddy in Madagascar. The largest projects in the “approval” stage or the “ongoing” stage are the following: • $582.4 million — Transport Infrastructure Improvement Project (Phase II) in Namibia. • $303.6 million — Energy Governance and Climate Resilience Programme in South Africa. • $273.1 million — Desert to Power Initiative in Mauritania and Mali. • $254.2 million — Economic Competitiveness and Resilience Support Program in Mauritius. • $253.3 million — Laropi-Moyo-Afoji/Katuna-Muko-Kamuganguzi Road Project in Uganda. • $252.2 million — Guercif-Nador Highway Project in Morocco. • $248.4 million — Transformative and Sustainable Water and Sanitation Program Phase I in Rwanda. • $221.3 million — Territorial Development and Private Sector Promotion Project in Cameroon. • $184.9 million — Joint Standard Gauge Railways project in Tanzania, Burundi, and Democratic Republic of Congo. • $179.4 million — Secondary Towns Stormwater Drainage Programme in Benin. Try out Devex Pro Funding today with a free five-day trial, and explore funding opportunities from over 850 sources in addition to our analysis and news content.