The African Development Bank Group (AfDB) has signed an agreement with South Korea’s Korea Environmental Industry and Technology Institute (KEITI) to promote climate-resilient and low-carbon technologies across Africa.
The collaboration aims to support climate change adaptation and mitigation as African nations confront urgent environmental challenges.
The partners formalised the pact during the Korea-Africa Ministerial Conference on Economic Cooperation in Busan, South Korea. Through the partnership, Korea will share technological expertise, project development knowledge, and practical experience with AfDB member countries.
The priority areas align with the conference’s focus on transforming agriculture and energy to ensure security. AfDB Vice President Kevin Kariuki stated that investing in technology and attracting financial flows are crucial to sustainable development in these key sectors.
The collaboration comes as climate change threatens Africa’s economic progress and food supplies. The AfDB estimates climate impacts could reduce Africa’s GDP by 15% by 2050 without urgent action. However, Africa contributes just 4% of global emissions
As developing economies, African nations require support to transition to clean energy systems and build resilience. The partnership will assist countries in identifying eco-friendly projects tailored to local needs.
Korea’s experience with rapid industrialisation and technology adoption can provide valuable lessons for Africa’s sustainable growth. KEITI Vice President Dr Lee Woo-Weon noted that sharing insights on the circular economy will be integral to the initiative.
The AfDB has made climate action central to its development mission on the continent. Its Climate Action Window aims to mobilise $13 billion to scale up transformative climate investments and initiatives in Africa. The partnership with KEITI will help advance these priorities.
AfDB Vice President Kariuki stressed that the bank will leverage its full range of financial instruments and technical capabilities to address Africa’s climate challenges and enable a just energy transition.