KEXIM, African Development Bank Sign Agreement to Expand Cooperation

[Financial News] The Export-Import Bank of Korea (KEXIM) signed a memorandum of understanding (MOU) with the African Development Bank (AfDB) to promote sustainable growth and expand financial cooperation in Africa.
According to KEXIM on the 10th, the AfDB is a multilateral development bank (MDB) established in 1964 to support economic development and social prosperity in African countries.
KEXIM President Hwang Ki-yeon and AfDB President Sidi Ould Tah met in Seoul the previous day and signed the agreement at the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Meeting.
The two institutions plan to promote diverse financial support centered on global agendas, including artificial intelligence (AI) and digital transformation, critical-mineral supply-chain stabilization, and eco-friendly and renewable-energy infrastructure, in response to the rapidly changing global economic environment and to foster future innovative industries.

[email protected] Park Moon-soo Reporter