Africa: Wcaf V - African Development Bank Group and UK Export Finance Sign MOU to Mobilise Financing for Africa
[African Development Bank (AfDB)] The African Development Bank Group (AfDB) and UK Export Finance (UKEF), the United Kingdom's export credit agency, have signed a Memorandum of Understanding to strengthen cooperation on co-financing projects across Africa and mobilise additional resources for the continent's sustainable development.
The African Development Bank Group (AfDB) and UK Export Finance (UKEF) have signed a Memorandum of Understanding (MOU) to enhance cooperation on co-financing projects across Africa and mobilize additional resources for the continent's sustainable development. The agreement, signed on 21 October in Conakry, Guinea, marks the first framework agreement between the two institutions.
Abdul Kamara, Officer in Charge, Vice President of the AfDB, and Tim Reid, Chief Executive of UKEF, signed the agreement during the fifth UK-West and Central Francophone Africa Trade and Investment Forum (WCAF V). The MOU aims to identify, assess, and develop co-financing opportunities for sovereign and non-sovereign operations in the Bank's regional member countries, leveraging each institution's financial instruments.
Priority areas for co-financing include energy, infrastructure, water and sanitation, health, digital infrastructure, critical minerals, supply chain resilience, agriculture, and trade finance. The partnership is expected to deepen the relationship between UK Export Finance and the African Development Bank Group, unlocking greater co-financing for Africa's growth priorities.
Brief written by urgent.news from AllAfrica's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
