Korea

03-Jul-2019

Africa Investment Forum: South Korean investors are keen to access pipeline of bankable African projects

Seoul, South Korea, July 3, 2019 - The 2019 edition of the Africa Investment Forum presents a good opportunity for South Korean investors to explore bankable projects in critical sectors, industry players said on Wednesday. The Forum − Africa’s own investment marketplace for accelerated economic transformation – is scheduled for November 11-13 in Johannesburg, South Africa. During a roadshow in Seoul, a Forum delegation met with representatives of the Export-Import Bank of Korea (KEXIM), the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and the...
18-Jun-2019

The African Development Bank, partners to host workshop on Gender Mainstreaming in Climate Change Policies in East Africa

WHO: African Development Bank and partners WHAT: Workshop for Eastern Africa policy-makers on “Gender Mainstreaming in Climate Change Policies, Plans and Strategies” WHERE: EKA Hotel, Nairobi, Kenya WHEN: 16-17 May 2019 The African Development Bank and its partners will host a two-day strategy workshop for policy makers from ten East African countries. The ‘Gender Mainstreaming in Climate Change Policies, Plans and Strategies’ event will be held at EKA Hotel on 16 and 17 May 2019 in Nairobi, Kenya. The training is part of a series of capacity building...
14-Jun-2019

Interview - Korea Program on International Agriculture (KOPIA)

Korea imported 900,000 tons of rice every year in the 1970s and became self-sufficient in five years. What made this happen? First, it was thanks to technology development. Korean scientists concentrated their efforts on developing new varieties of rice and succeeded in making their own high-yielding varieties. Second, rapid technology dissemination. Over 7,000 extension agents across the country had been dedicated to achieving the national goal of rice self-sufficiency. As a result, the new varieties could grow on 70 percent of the total rice paddy area in five years. Third, the...
14-Jun-2019

African Development Bank showcases impact of Korean drone technology on agricultural productivity

At a special event highlighting the partnership between the African Development Bank and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A pilot project, underway in Tunisia, is designed to reduce food imports. Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests. The Bank launched the project, in cooperation with the Busan Metropolitan City in Korea with support from the Korea-Africa Cooperation fund (KOAFEC). The session in Malabo...
23-May-2019

The Implications of Korea’s Experience for Developing Agriculture Value Chains in Africa – Brief

Agriculture is the primary source of income for 60% of the African population. However, the value of agricultural output stands at only a quarter of Africa’s GDP whilst its net food import bill is expected to expand to $110 billion by 2025.1 Africa’s subdued agricultural growth is not only due to low productivity, where yields stand at 56% of the global average,2 but it can also be attributed to the limited development of, and linkages across the agricultural value chains, especially beyond the production stage.3 As a matter of fact, value addition, after farming only accounts for 38% of...
23-May-2019

The Implications of Korea’s Experience for Developing Agriculture Value Chains in Africa – Full Report

Sub-Saharan African countries have been seeking ways to improve their economies, particularly as problems of malnutrition, poverty, and unemployment continue to plague the people. The challenges that most of the countries face on the continent resemble the challenges that some of the Asian countries have faced. South Korea (hereinafter, Korea), in particular, fundamentally faced similar issues in the 1950s and the 1960s. However, Korea was able to overcome these challenges and not only attain self-sufficiency in staple cereals but has developed into an economic powerhouse. This study traces...
21-May-2019

KTIPA - 2010 - Memorandum of Understanding between the Korea Trade-Investment Promotion Agency and the AfDB and the ADF

13-Feb-2019

Increasing the economic momentum of Africa-Korea partnerships to advance Africa’s agro-industrialization

African Development Bank Group President Akinwumi Adesina has called for increased economic momentum in Africa through partnerships with Korea to advance trade and the industrialization of Africa’s agricultural sector.  “Africa’s partnership with Korea should be more concrete and more structured. We should connect financial instruments and technologies from Korea with the numerous initiatives on the continent,” Adesina said at a meeting with government and business leaders, diplomats, development experts, and Korea’s leading agricultural scientists in Seoul last week. President...
10-Feb-2019

Remarks by Dr. Akinwumi A. Adesina, President, African Development Bank, on his acceptance of the SunHak Peace Prize Seoul, South Korea, February 9, 2019

Your Excellencies, the Founder of the SunHak Peace Prize, Dr. Mrs. Hak Ja Han Moon, Chairman and members of the SunHak Peace Prize Foundation, distinguished guests, friends, ladies and gentlemen. Good morning everyone!  I am delighted to be here today. It is such a great honour to have been awarded the SunHak Peace Prize. I would like to heartily congratulate my co-Laureate, Waris Dirie, and commend her for her global fight against female genital mutilation.  This Prize is not about me. No one should ever work to win a Prize. I serve God and humanity. For my life is only...
10-Feb-2019

“Corruption does not invest in the future, it kills the future.” – Akinwumi Adesina, at World Peace Summit of Global leaders

“We are working hard with governments to improve transparency, governance, accountability and project delivery across the continent. Corruption does not invest in the future, it kills the future,” Akinwumi Adesina, President of the African Development Bank said at the World Peace Summit of Global Leaders. According to the World Economic Forum, an estimated $116 billion a year would be required to feed the world and end hunger. It would also take $8.5 billion a year to eliminate malaria. “That's only 0.28% of what's lost to corruption globally every year,” said Adesina. “It...
10-Feb-2019

“We are in a race with time to unlock Africa’s full potential” – Akinwumi Adesina, 2019 Sunhak Peace Prize Laureate

2019 Sunhak Peace Prize Laureate Akinwumi Adesina has pledged to do more to advance Africa’s fight against hunger, poverty and youth underemployment. The President of the African Development Bank, and co-Laureate Waris Dirie, a global champion against Female Genital Mutilation, shared the prestigious US $1million dollar prize at an award ceremony held on 9 February 2019 in Seoul, South Korea. According to Adesina, “We are in a race with time to unlock the full potential of Africa.” Known globally for his dogged determination to reduce global poverty, Adesina declared “My life is...
07-Feb-2019

South Korea ready to partner with Africa on technology

In partnership with the African Development Bank, Korea is ready to step up technology transfers to Africa, officials said in Seoul today. Speaking at a meeting on potential technology partnerships between Korea and Africa, representatives of Busan Metropolitan City, Busan Techno Park, and Korea’s Green Technology Center said there was huge potential for cooperation and immense opportunities for job-creating bankable projects. The range of business options include agriculture, green growth, smart urban transportation management, and numerous business opportunities. President of the...
07-Feb-2019

Call for Applications - the AfDB Next African Global IT Leaders Program 2019 Spring Admissions

The African Development Institute of the African Development Bank is implementing the next African Global IT Leaders Programme under the aegis of the Korea-Africa Economic Cooperation (KOAFEC) Knowledge Sharing Programme (KSP). The objective of the programme is to create across the African continent a critical mass of global IT experts: highly trained professionals in ICT. The secondary objective of the programme is to expose mid-career professionals in African countries to the latest techniques and knowledge available through graduate studies at higher educational institutions in Korea....
06-Feb-2019

Tunisie : la première promotion de pilotes de drones diplômés dans le cadre du projet-pilote d’utilisation de drones initié par la Banque africaine de développement

Dans le cadre du projet-pilote d’utilisation de drones dans les projets agricoles en Tunisie, s’est tenue, le 25 janvier 2019 à Tunis, la cérémonie de remise des diplômes à 40 pilotes de drones, en présence de Mohamed El Azizi, directeur général de la Banque africaine de développement pour l’Afrique du Nord. La cérémonie, présidée par Samir Ettaieb, ministre de l’Agriculture, des ressources hydrauliques et de la pêche, s’est déroulée en présence du représentant de l’ambassade de Corée du Sud à Tunis, ainsi que de nombreux responsables publics. Première du genre en Tunisie, cette...
12-Oct-2018

Revisiting the 53rd Annual Meetings of the African Development Bank: Key moments

As the 2018 Annual Meetings of the International Monetary Fund and the World Bank Group begin in Bali Nusa Dua, Indonesia, we look back at one of the key moments of the 53rd Annual Meetings of the African Development Bank last May in Busan, Korea, where World Bank President Jim Yong Kim endorsed ongoing institutional reforms at the pan-African development institution under the leadership of President Akinwumi Adesina. Addressing regional and non-regional governors of the African Development Bank in Busan, Korea, last May, the President of the World Bank, Dr. Jim Yong Kim said he had...
04-Jun-2018

Investing in smart technologies to power industrialization

Inspired by Korea’s successful, rapid industrialization, the World Bank and the African Development Bank have pledged to increase investments in education, in financing for innovative technologies, in science and technology laboratories, and in providing risk guarantees to support initiatives to propel Africa’s industrialization. These commitments were made at the High-Level Dialogue on Accelerating African Industrialization Vision, Experiments and Lessons at the 53rd African Development Bank Annual Meetings in Busan, Korea, that brought together political leaders from Africa and...
31-May-2018

African Development Bank provides US $1 million to support Sudan’s preparation for debt relief

The African Development Bank’s Director General for the East African Region, Gabriel Negatu, and Sudan’s State Minister of Finance and Economic Planning, Magdi Yassin, presided over the signing ceremony of a US $1-million grant agreement to facilitate Sudan’s access to debt relief and to reintegrate it into the global economy. The two-year grant will enable Sudan to update its Arrears Clearance and Debt Relief Strategy and build momentum to accelerate the outreach process on debt relief. It will also complement the Bank’s technical assistance to revitalize Sudan’s economy in the post-...
31-May-2018

Supporting Women-owned Businesses and SMEs in Sierra Leone

At its 2018 Annual Meetings in Busan, Korea, the African Development Bank signed a 5-year, US $3-million Line of Credit (LoC) with Sierra Leone’s Union Trust Bank (UTB), the only indigenous private bank in Sierra Leone and an important provider of finance for indigenous micro, small and medium-sized enterprises. The LoC will primarily target local SMEs and women-owned businesses working in agriculture, energy, manufacturing and services, among others. Private-sector development will benefit from having more competitively priced commercial finance available for firms in Sierra Leone and UTB...
25-May-2018

Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth

The Asia External Representation of the African Development Bank(link is external) organized an Africa Day Joint Side Event with the  Asian Development Bank Institute, “Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth”, during the Bank’s 53rd Annual Meetings and the African Development Fund’s 44th Meetings in Busan, Korea. After Tadashi Yokoyama, Head of the Bank’s Asia External Representation opened the seminar, Byong Yol Woo, Director General for International Economic Affairs at the Korean Ministry of Strategy and Finance, and Takashi...
25-May-2018

The African Development Bank and the Global Green Growth Institute partner to fast-track Green Growth in Africa

The African Development Bank(link is external) and the Global Green Growth Institute(link is external) (GGGI) signed a Memorandum of Understanding (MoU) Friday on the sidelines of the African Development Bank Group’s Annual Meetings in Busan, to promote programs, projects, joint studies and research activities to accelerate green growth options for African countries. The African Development Bank and the Global Green Growth Institute will cooperate in several areas, including conducting a joint study on green growth readiness in Africa and exploring ways to...