African Development Bank and Korean Partners Showcase Koafec Cooperation At 2026 Annual Meetings

3 July 2026
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African Development Bank (Abidjan)
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The African Development Bank Group and its Korean partners jointly ran a Korea-Africa Economic Cooperation (KOAFEC) promotional booth during the Bank Group's 2026 Annual Meetings, held in Brazzaville from 25 to 29 May.

Representatives from the Bank Group, the Ministry of Economy and Finance of the Republic of Korea, and the Export-Import Bank of Korea used the booth to engage with stakeholders, showcasing the partnership between the Bank Group and Korea while promoting cooperation mechanisms and business opportunities between Korea and Africa.

Delegations from African member countries, development institutions and private sector entities visited the booth to learn more about potential partnerships with Korean stakeholders. The exhibit highlighted cooperation opportunities in digital transformation, artificial intelligence, energy, transport, infrastructure, and private sector participation.

Particular attention was given to the upcoming 8th KOAFEC Ministerial Conference, scheduled to take place in Seoul from 8 to 11 September 2026 under the theme, "Harnessing AI and Digital Infrastructure for Africa's Transformation." The Conference is expected to expand Korea-Africa cooperation in digital transformation and artificial intelligence and will introduce the 2027-2028 KOAFEC Action Plan.

The booth also introduced the Korea-Africa Economic Cooperation Trust Fund, which supports project preparation, technical assistance, knowledge sharing, and strategic cooperation across Africa. Examples of KOAFEC-backed initiatives in digital transformation, artificial intelligence, energy, transport, infrastructure, capacity building, and private sector participation were presented during the event.

Gauthier Bourlard, Senior Director of the Bank Group's Resource Mobilisation and Partnerships Department, highlighted the value of practical cooperation between Korea and Africa through KOAFEC.

"KOAFEC continues to serve as an important platform for connecting Korean expertise, technology, and partnerships with the development priorities of African countries," Bourlard said. "Through the upcoming Ministerial Conference and the Trust Fund, we aim to further strengthen collaboration in digital transformation, artificial intelligence, infrastructure and private sector engagement."

The event raised awareness of Korea-Africa cooperation mechanisms and business opportunities, while laying groundwork for future engagement between African governments, the Bank Group and Korean partners.

Read the original article on African Development Bank (AfDB).

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