Announcement Description

<p>For the first time since its founding, the Republic of Korea is inviting leaders of African nations and related international organizations to the Korea-Africa Summit. The summit will be held on June 4-5 at the KINTEX International Exhibition Center in Ilsan and Seoul, Korea.</p> <p>The 2024 Korea-Africa Summit, themed &quot;The Future We Make Together: Shared Growth, Sustainability, and Solidarity,&quot; aims to enhance cooperation between Korea and Africa. It will bring together African heads of state, leaders from international organizations, and key figures from the Korean government, including South Korean President Yoon Suk Yeol.</p> <p>The summit will focus on promoting collective strength and solidarity for sustainable development. It will address global challenges such as climate change, food security, supply chain stability, and health security.</p> <p>The event is designed to be a comprehensive platform for discussion and engagement. It will include a summit session for heads of state and international organizations, as well as various conference sessions covering topics such as business, agriculture, ICT, forestry and desertification, vaccine and health security, tourism, and energy. Dr. Akinwumi A. Adesina, President of the African Development Bank Group, will lead a delegation to the summit, highlighting the longstanding cooperation between the Bank and the Korean government, which spans over 40 years.</p> <p>The 2024 Korea-Africa Summit follows the 7th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, held in September 2023, which reinforced Korea&rsquo;s commitment to supporting Africa&#39;s development. At the 7th KOAFEC, the African Development Bank and the Government of Korea signed agreements worth $28.6 million to boost Africa&rsquo;s development agenda.</p> <p>This funding will support energy access, agricultural transformation, and knowledge and capacity-building in various African countries. It will be disbursed in three installments: $4.6 million in 2023, and $24 million in 2024 and 2025. Additionally, this funding complements the $600 million in co-financing under the Korea-Africa Energy Investment Framework (KAEIF), established between the Bank and the Korean Government in 2021.</p> <p>The framework aims to build technical capacity and develop the energy sectors in African countries.</p>

Announcement Documents

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