African Development Bank (AfDB)
Founded in 1964, the African Development Bank Group (AfDB) is a multilateral development finance institution established to contribute to the economic development and social progress of African countries.
Both the African Development Bank and the African Development Fund are mentioned in the Convention text (Article 15). The first Memorandum of Understanding between UNCCD and AfDB was signed in 1999. Since then, AfDB and the Global Mechanism of UNCCD have collaborated on a wide range of initiatives, such as building the capacity of African stakeholders on the climate change/land degradation nexus through the implementation of the Nationally Determined Contributions (NDCs) and the Land Degradation Neutrality (LDN) targets.
In 2021, the Great Green Wall Initiative received a major boost from the African Development Bank. During the One Planet Summit hosted by French President Emmanuel Macron and His Royal Highness the Prince of Wales, the Bank pledged to assist in mobilising up to $6.5 billion over five years, to advance the landmark initiative.