The African Development Bank Group together with the Korea Institute for International Economic Policy (KIEP) has convened African and Asian economic experts to discuss how Africa can mobilise development financing at scale in an increasingly fragmented global economy.

The fifth edition of the African Development Bank's African Economic Outlook (AEO) seminar for Asian audiences, which took place online, was co-hosted by the African Development Bank's Asia External Representation Office, its Macroeconomic Policy, Forecasting and Research Department and KIEP. The event also featured a presentation of the African Economic Outlook 2026 report, themed "Mobilizing Africa's Development Financing at Scale in a Fragmented World."

According to the report, Africa's real GDP growth is projected to moderate to 4.2% in 2026, from an estimated 4.4% in 2025, before recovering to 4.4% in 2027.

Dr. Sungbae An, KIEP Vice President for External Affairs, opened the seminar: "The partnership between the Bank and KIEP is very important as Africa's economic trajectory has far-reaching implications for global growth, supply chain resilience, and the broader future of sustainable development," he said.

"The African Economic Outlook 2026 comes at a critical moment. Africa's economy has demonstrated its resilience in the face of global shocks. The key challenge now is to translate that resilience into structural transformation, productive investment, quality job creation, and poverty reduction," he said.

Dr. Youzhou Wei, Associate Professor of Economics at Shanghai Ocean University, stressed the importance of institutional reform and a long-term approach.

"In the increasingly fragmented world, African countries must take control of their own development destiny through systematic institutional reform and strategic build of financial agencies."

Dr. Veda Vaidyanathan of the Centre for Social and Economic Progress (CSEP) in India urged that Africa move beyond being a destination for capital and become a strategic production and investment partner.

"The central message of this outlook is that the future of development finance will depend less on the availability of capital than on the ability to organise it..."

Mr. Karanu Muchiri, President of the International Council of the National Graduate Institute for Policy Studies (GRIPS) in Tokyo, Japan, stressed the importance of strengthening institutional capabilities.

"Ultimately, reforming the global financial architecture is not just about moving more capital into Africa. It's about strengthening the capability that allows that capital to become transformation."

Dr. Seoni Han of KIEP emphasized the role of innovative financing in increasing efficiency and strengthening institutional capacity. She described innovative financing as an "institutional design that converts high-risk development needs into investable and debt-sustainable projects."

Strengthening the pipeline of bankable projects

African Development Bank Group experts reiterated the importance of creating conditions that enable institutional investors and other private sources of capital to participate more effectively in Africa's development.

Dr. Francis Anguyo, Principal Research Economist at the Bank, said: "The objective should not be to increase the risk exposure, but to enable access. Institutional investors require projects that meet rigorous standards, clear revenue models, credible sponsors, robust governance architecture."

Dr. Anthony Simpasa, Director of the Bank Group's Macroeconomic Policy, Forecasting and Research Department, noted, "Capital will flow where there is trust, and trust can only be strengthened by quality institutions, the quality of governance, and the quality of capabilities that you all have talked about."

Closing the seminar, Mr. Naoshige Kinoshita, Lead Program Coordinator of the Bank Group's Asia External Representation Office, underscored the growing economic interdependence between Africa and Asia amid a challenging global environment.

"While the world is facing geopolitical uncertainty, economic volatility and increasing fragmentation, the destinies of Africa and Asia are becoming increasingly intertwined," he said.

He concluded by stressing that addressing Africa's development financing needs will require not only "financing at scale, but also partnerships at scale, innovation at scale, and trust at scale."

Read the African Economic Outlook 2026 and view the main presentation.