AfDB Board Approves the Bill and Melinda Gates Foundation Trust Fund
The Board of Directors of the African Development Bank Group on Wednesday, March 11, 2015 in Abidjan approved the establishment of the Bill and Melinda Gates Trust Fund to be hosted by the Bank.
The Fund’s US $2.4 million initial contribution will support forward-thinking on the issue of concessional finance in development by an African Development Fund (ADF) Policy Lab. It would also support other future Bank activities. It is the first bilateral fund with a non-sovereign entity, and the first bilateral fund with the Foundation aimed to provide structure to the long-standing collaboration with the Bank and scale up areas of intervention.