China

China became a member of the African Development Fund and African Development Bank in 1985.

Africa Growing Together Fund (AGTF)
China and the Bank Group established the Africa Growing Together Fund (AGTF), which became operational in November 2014, with an envelope of USD 2 billion for 10 years. It is one of the key co-financing vehicles of the Bank to fund public and private sector operations in line with the High Five priority areas.

At the end of Q4 2023, 50 projects (USD 1,73 billion) have been approved, amounting to an 87 percent approval rate. Projects currently under consideration by PBOC amount to USD 163.55 million. 88 percent of projects approved (volume) are sovereign operations. By the end of the investment period commitment levels (signed loans) are projected to reach USD 1.75 billion.