African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank and Korea Environmental Industry and Technology Institute (KEITI) sign agreement to deploy environmental and climate-resilient technologies in Africa

Through this partnership, Korea will share technology, experience, and knowledge with the bank’s African member countries

The African Development Bank (www.AfDB.org) and the Korea Environmental Industry and Technology Institute (KEITTI) (https://apo-opa.info/3Pshxj7) have signed a joint technical assistance agreement to enable the scale up of investment in low-carbon and climate-resilient technologies. This will ultimately support climate change mitigation and adaptation efforts in many African countries. The two…

African Development Bank Group (AfDB)
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    • 7th Korea-Africa Economic Cooperation (KOAFEC) business forum
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Source: African Development Bank Group (AfDB) |

Adesina to Korean investors: Africa is the leading market frontier with huge untapped potential

Africa is not as risky as you hear - It is a continent of opportunities, waiting to be tapped

African Development Bank (www.AfDB.org) President Akinwumi Adesina has called on Korean investors to seize untapped investment opportunities in Africa, especially in the energy and agriculture sectors. “Africa is a continent that cannot be ignored by investors,” Adesina said at a business forum attended by CEOs of Korean corporations, heads of…

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    • AfDB President Akinwumi Adesina (left) and Korea's Deputy Prime Minister Kyungho Choo at the opening of the 7th Korea-Africa Economic Cooperation Ministerial Conference in Busan
    • 33 African finance ministers, ambassadors, heads of pan-African institutions and NGOs, CEOs and Korean private sector leaders gathered in Busan for the 7th KOAFEC Ministerial Conference
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Source: African Development Bank Group (AfDB) |

Korea and Africa rally additional finance and technology for universal energy access and to make Africa world’s breadbasket

The Korea Trust Fund and the $600 million Korea-Africa Energy Investment Framework will support African countries in strengthening human capacity and developing their energy sectors

The 7th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference opened in Korea’s second-largest city, Busan, on Wednesday with a strong call for additional resources to help African countries achieve universal access to energy and transform the continent into the breadbasket of the world. The conference is taking place at a time…

Source: African Development Bank Group (AfDB) |

Korea to channel $600 million into energy investments alongside the African Development Bank

The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on 28 May 2021 of a General Cooperation Agreement between the Bank and the Korean government

The African Development Bank (www.AfDB.org), the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank. The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on…

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    • L to R: Joohoon Kim, Chargé d’ Affaires of the Republic of Korea in Angola; Moono Mupotola, the Bank’s Director for Regional Development & Regional Integration; Joffre Van-Dúnem Júnior, Minister of Commerce; Sérgio dos Santos, Secretary of State for Economy; Joseph Ribeiro, the Bank’s Country Manager for Angola
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Source: African Development Bank Group (AfDB) |

African Development Bank Funds Angola Initiative to Improve Business Environment and Diversify Exports

With regional integration, countries such as Angola have the opportunity to buttress trade with its neighbours, hence realizing the structural transformation that is needed to step up to the global stage

The Angolan Government has launched a study funded by the Bank through the KOAFEC trust fund to support the improvement of export diversification and the business environment. The launch event was attended by the Bank’s director for regional development and regional integration, Moono Mupotola, the Bank’s country manager for Angola,…

Source: African Development Bank Group (AfDB) |

African Development Bank showcases impact of Korean drone technology on agricultural productivity

Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests

At a special event highlighting the partnership between the African Development Bank (www.AfDB.org) and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A pilot project, underway in Tunisia, is designed to reduce food…

Source: African Development Bank Group (AfDB) |

African Development Bank takes landmark lead on formation of Africa Financial Alliance for Climate Change

The international community has pledged to mobilize $100 billion in climate finance per annum by 2020 to support adaptation and mitigation projects in developing countries

Scientific evidence shows that African economies are already reeling from the devastating effects of climate change, further exacerbating their development challenges. Of the 10 countries in the world that are most threatened by climate change, seven are in Africa. Cognizant of this situation, the African Development Bank (www.AfDB.org) led the way to what may turn…

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    • Korea ready to share its technological and industrial revolution experience with Africa, says President Moon Jae-in (1)
    • Korea ready to share its technological and industrial revolution experience with Africa, says President Moon Jae-in (2)
    • Korea ready to share its technological and industrial revolution experience with Africa, says President Moon Jae-in (3)
    • Korea ready to share its technological and industrial revolution experience with Africa, says President Moon Jae-in (4)
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Source: African Development Bank Group (AfDB) |

Korea ready to share its technological and industrial revolution experience with Africa, says President Moon Jae-in

The Chairman of the African Union and Rwandan President, Paul Kagame noted that holding the Annual Meetings in Busan presents a unique opportunity to enforce the growth cooperation between Africa and the Republic of Korea

Korean President Moon Jae-in has committed to sharing Korea’s technological and industrial experience with Africa and to help it compete in the 4th Industrial Revolution. His message came at the opening ceremony of the 53rd Annual Meetings of the African Development Bank (https://AM.AfDB.org/en). “Africa is no longer the sleeping lion.…

Source: African Development Bank Group (AfDB) |

African Development Bank delivers strong operational results

The Bank is scaling up its efforts to accelerate the pace of industrialization, supported by its presence in 38 countries and by timely and quality operations

The African Development Bank (www.AfDB.org) is delivering on its goals and making good progress towards achieving its development and operational targets according to the 2018 Annual Development Effectiveness Review (ADER) (https://goo.gl/LQoJUJ), which was released at the Bank’s Annual Meetings in Busan, Republic of Korea. Every year, ADER scrutinizes the Bank’s operational effectiveness…

Source: African Development Bank Group (AfDB) |

Fund for African Private Sector Assistance (FAPA) Donors and African Fertilizer and Agribusiness Partnership (AFAP) sign grant agreement in support of local supply and utilization of fertilizer in Africa

This initiative complements the Bank’s strategy for transforming agriculture value chains in Regional Member Countries and strengthening private enterprises

On the sidelines of the African Development Bank (www.AfDB.org) Annual Meetings in Busan, Korea, the Fund for African Private Sector Assistance (FAPA) (https://goo.gl/bkP5Bm) donors and the African Fertilizer and Agribusiness Partnership (AFAP) have signed a grant agreement in support of local supply and utilization of fertilizer by smallholder farmers in…