South Korea and AfDB Expand Investment Pact to Drive African Growth

The agreement, signed in Seoul by Bank President Dr. Sidi Ould Tah and Deputy Prime Minister Koo Yun-cheol, targets the critical gap between conceptual project ideas and bankable investment operations. By leveraging the Economic Development Cooperation Fund alongside the existing trust fund, the partners aim to bridge the resource deficit that often stalls development projects. This initiative focuses on resilient infrastructure, climate-adaptive systems, and the extraction of critical minerals to bolster African industrial competitiveness.

Technological integration serves as a primary pillar of this expanded strategy. Both parties are prioritizing AI and digital skill development for public decision-makers to ensure that new tools translate into improved service delivery and business productivity. This approach rests on a track record of supporting over 1,300 start-ups and creating more than 5,000 jobs. By aligning these efforts with the Bank’s Ten-Year Strategy and the Abidjan Consensus, the partnership seeks to mobilize private capital and enhance financial sovereignty, moving beyond traditional aid toward a model of integrated value chains and sustained economic innovation.