Korea Eximbank signed an MOU with the African Development Bank in Seoul to expand financial cooperation in Africa. The agreement covers AI, digital transformation, critical mineral supply chains, and green and renewable energy infrastructure. It was signed on the sidelines of the 8th Korea-Africa Economic Cooperation Ministerial Conference. Korea Eximbank said the pact is a comprehensive revision of a 2005 agreement.
Hwang Ki-yeon, left, CEO of Export-Import Bank of Korea (Korea Eximbank), and African Development Bank President Sidi Ould Tah pose during a memorandum of understanding signing ceremony on expanded financial cooperation at a hotel in Seoul, Wednesday. Courtesy of Korea Eximbank
The Export-Import Bank of Korea (Korea Eximbank) has signed a memorandum of understanding (MOU) with the African Development Bank (AfDB) to expand financial cooperation in Africa, the state-run lender said Thursday.
The agreement was signed in Seoul the previous day by Korea Eximbank Chairman and CEO Hwang Ki-yeon and AfDB President Sidi Ould Tah on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference.
The KOAFEC Ministerial Conference is jointly hosted by Korea's Ministry of Finance and Economy, Korea Eximbank and the AfDB to promote economic cooperation between Korea and Africa.
