MCDF’s 2025 Annual Report Spotlights its Progress and Preparations to Boost High-Quality Connectivity Infrastructure Investment Promotion

The Multilateral Cooperation Center for Development Finance (MCDF) has published its 2025 annual report and audited financial statements, as approved by the MCDF Governing Committee.

Click to Download the MCDF 2025 Annual Report and Audited Financial Statements

The annual report spotlights the important developments of MCDF’s fifth year of operations and preparations for its future as a rapidly growing mechanism for promoting high-quality connectivity infrastructure investment in developing countries through partnerships. It describes the inaugural MCDF Ministerial Meeting held in June 2025 in which MCDF’s donor countries and Administrator, the Asian Infrastructure Investment Bank (AIIB), affirmed MCDF’s strong performance, as outlined in the preliminary findings of the Independent Evaluation of MCDF for 2021-2025, and called for preparations for its next phase, beyond December 2026.

The annual report details MCDF’s continued progress in 2025, amid escalating global uncertainty and pressure on multilateralism. It discusses how this progress is reflected in the Independent Evaluation of MCDF published in September, which underscores the value of MCDF’s expanding partnership activities to meet demand for connectivity infrastructure that opens trade and economic opportunity, improves living standards, strengthens climate mitigation and adaptation, and ensures sustainable development.

The annual report overviews the impact of MCDF’s intensified efforts to bring together governments, International Financial Institutions (IFIs), and developing country financiers (New Partners), with MCDF Finance Facility grants supporting high-quality connectivity infrastructure projects in Africa, Asia, and Latin America and the Caribbean increasing 55%, from 38 in 2024 to 59 in 2025. The total financing amount of MCDF’s grant portfolio grew by 80%, up from USD42.97 million in 2024 to USD77.6 million in 2025, lifting its total project investment mobilization to USD12.7 billion, the annual report notes.

It showcases Lao PDR, AIIB, and the Abu Dhabi Fund for Development’s loan agreement in 2025 for the MCDF grant-supported Road Development Program; MCDF’s first grant supporting a digital project to be cofinanced by the African Development Bank, Africa Finance Corporation, and the World Bank; and MCDF’s first grant supporting a project to be cofinanced by AIIB and the Asian Development Bank. The annual report also discusses West African Development Bank’s accreditation as the MCDF Finance Facility’s eighth Implementing Partner, opening another channel for taking innovative and sustainable connectivity projects forward via grant-supported project preparation, capacity building, and information sharing.

Broader information and knowledge sharing and collaboration to advance the application of IFI standards and good practices in connectivity projects were boosted with the Caribbean Development Bank and Eastern and Southern African Trade and Development Bank becoming new members of the MCDF Coordination Committee, the annual report explains. This increased the number of IFI partners who guide these activities under the MCDF Collaboration Platform to 14.

The annual report notes that in 2025, nearly 2,000 people from 73 countries and 46 New Partners participated in MCDF Collaboration Platform knowledge-sharing events, such as MCDF’s first flagship connectivity investment conference on green and efficient ports; MCDF’s first training on environmental and social standards for infrastructure contractors; and MCDF’s first co-organized seminar at a Finance in Common Summit. It continues with a look at the launch of the first two volumes of the MCDF Connectivity Infrastructure Report Series, which present lessons for successful IFI-supported cross-border transport, energy, and digital infrastructure projects in Central and West Asia and Southeast Asia, respectively.

The annual report goes on to explore how MCDF enhanced its operational capacity and welcomed a greater number of partners with the support of the MCDF Governing Committee, whose MCDF donor country members were chaired by China, the MCDF Coordination Committee, chaired by CAF – Development Bank of Latin America and the Caribbean, and AIIB as MCDF’s Administrator. MCDF’s achievements were presented in the first MCDF Impact report, published in June, and through the significant expansion of MCDF communications, the annual report adds.

“The increasingly turbulent global landscape reinforces the importance of MCDF’s mission to provide mutual support for high-quality connectivity infrastructure development and working together to build on the success of its first five years of operations,” said MCDF CEO Zhongjing Wang. “The MCDF 2025 Annual Report offers a timely glimpse of what MCDF can possibly achieve during the next five years and beyond.”

The annual report concludes by presenting MCDF’s financial results in 2025, as audited by MCDF’s external auditor.