The Arab Coordination Group and African Development Bank Group unveiled a strategic partnership to expand joint financing and mobilise private capital for African economic transformation at a high-level meeting in Abidjan, the Saudi Press Agency reported on January 13.

The consultation at the AfDB headquarters established a platform to shift from fragmented cooperation towards coordinated, large-scale investment aligned with the continent's development priorities.

The initiative addresses Africa's widening development finance gap and urgent need for capital to support energy access, climate adaptation, food security, regional integration and private sector-led growth.

Member institutions of the Arab Coordination Group committed to deeper African engagement through coordinated approaches combining balance sheets, long-term counter-cyclical financing capabilities, sectoral expertise and country platforms to mobilise larger public and private investment supporting African development priorities.

Participants explored mechanisms for joint project preparation, coordinated financing approaches and policy dialogue whilst leveraging comparative advantages to support country-led development agendas.

The discussions occurred within the AfDB's agenda to strengthen Africa's financial sovereignty through a new African Financial Architecture aimed at integrating development finance institutions, guarantee providers, insurers, capital markets and private investors.

The consultation concluded with adoption of a joint declaration articulating a shared political vision and operational guidelines identifying clear priority cooperation areas. The declaration establishes principles for institutional follow-up mechanisms guiding the next phase of Arab-African partnership.

The framework calls for preparation of a financing and operational partnership structure for consideration during 2026, defining co-financing mechanisms, project pipeline coordination, mutual reliance arrangements and regular joint programming.

The declaration recognises the African Development Fund's role as the AfDB Group's concessional financing arm supporting low-income and fragile countries, calling for closer cooperation between Arab Coordination Group institutions and the fund.