2025 CMDTF Call for proposals

Apr 15, 2025 - May 09, 2025

The African Development Bank (AfDB)'s Capital Markets Development Trust Fund (CMDTF), a fund that operates to complement the Bank's efforts to mobilize resources through domestic financial markets while advancing the Bank’s High 5 operational priorities, aims to promote the development of African capital markets by providing technical assistance. Specifically, CMDTF seeks to improve capital markets’ regulatory and legal environment, upgrade market infrastructure, diversify products, broaden the investor base, and increase knowledge. 

In line with the CMDTF Operational and Procedures Guidelines (April 2025), the Fund’s Secretariat is pleased to announce a call for proposals for the CMDTF 2025 Annual Budget & Work Program. Request forms are attached.

The terms and conditions are as follows:

AREAS OF INTERVENTIONS

  • Capital markets’ regulatory & legal environment (30%) - Capital markets development strategies | Capital markets framework upgrades
  • Capital markets infrastructure (20%) - upgrade of stock exchanges and bond auction systems
  • Diversification of capital markets products and services (30%) - Green bonds and asset-backed securities/securitization | small and medium enterprises capital markets instruments | thematic instruments
  • Broadening capital markets’ investor base (20%) - African capital markets compliance with offshore jurisdictions | Capital markets data transparency | Capacity-building for institutional investors and banks.
  • Knowledge dissemination - Production of flagship reports on capital markets development | Knowledge events on capital markets development in West Africa

TARGETED CLIENTS/RECIPIENTS

  • Stock exchanges
  • Local/regional capital markets authorities
  • Local/regional institutional investors and their regulators
  • Central banks
  • Regional member countries, Ministries of finances, Debt Management Offices
  • African government institutions involved in capital markets development
  • Ministries of regional integration
  • Regional Economic Communities
  • Regional and continental bodies

ELIGIBLE ACTIVITIES

  • Capital markets soft/hard infrastructure development to modernize the functioning of targeted clients /recipients.
  • Workshops and seminars to build consensus/understanding/skills among stakeholders for appropriate policy, regulatory and institutional reforms.
  • Policy, regulatory and institutional reforms to assist design and implement specific reforms, including studies, roadmaps, and masterplan.
  • Capacity-building activities to strengthen the capacity of targeted clients in the design and execution of capital markets development projects and programs.
  • Knowledge products and services, including sector studies, establishing trade knowledge platforms, market information systems, disseminating best practices in the field of capital markets development, etc. 

OTHER PROJECTS REQUIREMENTS

  • Geographical restriction: African Development Bank regional member countries
  • Duration: 2025-2028
  • Deadline for submission: 16 May 2025 at 23:59 GMT (Abidjan Time)

APPLICATION PROCEDURES

REVIEW AND EVALUATION OF PROPOSALS

  • Applications will be reviewed and graded according to the objectives and priorities of the Fund. Applicants may visit www.afdb.org/cmdtf for further information;
  • Where necessary, shortlisted applicants may be contacted for additional information;
  • All applicants will be notified of the results of the selection process within three months following the application deadline;
  • Please note that submitting an application does not guarantee that the project will be selected for financing.
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