These all appear to be fine aspirations and new development funding is always to be welcomed, but it remains to be seen whether the ACGF will provide anything new.
The guidelines laid down and strategy designed for the operation of the fund are significant beyond the realm of the ACGF in that they give a clear indication of broader World Bank strategy on support for Africa.
Some governments may be reluctant to channel their own development spending through the ACGF but they may adopt many of the key tenets of its approach in their criteria for supporting projects.
As with previous initiatives, the ACGF is unlikely to make a massive short-term difference, but it could set a trend that could be copied by the many other multilateral and bilateral funding agencies that collectively pump billions of dollars into African economies every year.
On balance, it seems that the main difference in funding criteria between the ACGF and the many previous international efforts to support development in Africa through targeted funding is that money will be provided and projects supported where they will make most difference, rather than where they are most needed.
One difference between the ACGF and many other World Bank funds and organisations is that money will be allocated purely as grants rather than loans.