The AWF was legally established by the Board of Governors of the African Development Bank, in 2004 by approving the Instrument for its establishment. The AWF was established as a critical financing tool to support the attainment of the African Water Vision.
The African Development Bank (AfDB) is the trustee for the African Water Facility Special Fund. The Bank houses the AWF on behalf of the African Ministers’ Council on Water (AMCOW), and in its capacity as trustee and legal owner of the Facility, holds in trust the funds, assets and receipts which constitute the resources of the Water Fund, and manages and applies them for the purpose of, and in accordance with, the provisions of the Establishment Instrument of the water fund.
The African Development Bank’s Strategy for 2024-2033 sets out two key objectives which are supporting inclusive growth and a transition towards green growth for African countries.