South Korea and AfDB to provide US$600m on energy projects in Africa

AFRICA – The African Development Bank (AfDB) has signed an agreement with the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea, under which Korea will provide US$600 million in co-financing for energy projects alongside the Bank. The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on 28 May 2021 of a General Cooperation Agreement between the Bank and the South Korean government. The KAEIF has a particular focus on renewable energy solutions in Africa, including generation, transmission, distribution, off-grid- and mini-grid, policy and regulatory reform,…

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