The two institutions signed a Memorandum of Understanding on October 21 during the fifth UK-West and Central Francophone Africa Trade and Investment Forum in Conakry, Guinea.

AfDB Officer in Charge and Vice-President Abdul Kamara and UK Export Finance (UKEF) Chief Executive Tim Reid signed the agreement, the first formal cooperation framework between the institutions. “Africa’s financing needs call for partnerships that bring additional capital to the continent at scale,” Kamara said.

“This agreement with UKEF gives our cooperation a structured framework and opens new opportunities to finance the infrastructure and investments that will drive Africa’s growth.”

The agreement will enable the AfDB) and UKEF to identify, assess and develop co-financing opportunities across AfDB Member States.

Financing will cover government-backed and private-sector operations, drawing on the financial instruments and expertise available through both institutions.

Priority sectors include energy, infrastructure, water and sanitation, healthcare, digital infrastructure, agriculture and trade finance.

The partnership will also target critical minerals and projects aimed at strengthening supply-chain resilience.

By combining development financing and export-credit support, AfDB and UKEF aim to attract additional public and private capital for strategic investments across the continent. “This agreement deepens the relationship between UKEF and the AfDB,” Reid said.

“By combining our financial instruments and expertise, we can unlock greater co-financing for the infrastructure, energy and trade priorities that matter most to Africa’s growth.”

Reid said UKEF was committed to supporting Africa’s development priorities at greater scale.

The agreement supports AfDB’s strategic priorities, including efforts to mobilise larger volumes of financing for African economies.

–AfDB/ChannelAfrica–