What did Korea Eximbank and the African Development Bank agree to do in Seoul?

They signed an MOU to expand financial cooperation in Africa. The agreement was announced by Korea Eximbank and was signed on the sidelines of the 8th Korea-Africa Economic Cooperation Ministerial Conference.

How is the new Korea Eximbank-AfDB agreement connected to the earlier 2005 pact?

Korea Eximbank said the new deal is a comprehensive revision of the MOU first signed in 2005. The bank also said Africa’s critical resources and growth potential are making the continent a more important partner as demand for AI-related infrastructure and technologies grows.

Korea Eximbank taps Africa's AI, minerals, infrastructure markets

Q: What sectors are covered by the Korea Eximbank and AfDB cooperation deal?

The MOU covers artificial intelligence, digital transformation, critical mineral supply chains, and green and renewable energy infrastructure. The two institutions said they want to broaden financing for projects tied to emerging global economic challenges and new industries.

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Summary

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.

Key Facts

The MOU was signed by Korea Eximbank Chairman and CEO Hwang Ki-yeon and AfDB President Sidi Ould Tah.
The agreement covers financing cooperation in artificial intelligence, digital transformation, critical mineral supply chains, and green and renewable energy infrastructure.
Korea Eximbank said the deal is a comprehensive revision of an MOU first signed in 2005.
The institutions said they will work together to expand financing for projects addressing emerging global economic challenges and supporting new industries.

By Lee Hyo-jin

Published Sep 10, 2026 8:00 am KST

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.

The MOU covers financing cooperation in several areas, including artificial intelligence (AI), digital transformation, critical mineral supply chains, and green and renewable energy infrastructure.

The two institutions agreed to work together to expand financing for projects addressing emerging global economic challenges and supporting new industries.

The agreement marks a comprehensive revision of an MOU first signed by the two institutions in 2005, according to Korea Eximbank.

Africa's critical resources and growth potential have made the continent an increasingly important partner for Korea as demand for AI-related infrastructure and technologies grows. The expanded cooperation would help Korean companies participate in major projects and supply chain investments in the region.

"With this agreement, we are renewing our partnership with the AfDB, which has continued for more than two decades. Eximbank will work to connect Korean technology with Africa's development needs through a broader range of financial cooperation," Hwang said.

"We will continue to strengthen strategic cooperation with the AfDB and other multilateral development banks to support Korean companies' expansion into overseas markets," he added.

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