The African Development Bank Group (AfDB) and UK Export Finance (UKEF) have signed their first-ever framework agreement to expand co-financing for infrastructure, energy, and sustainable development projects across Africa. The Memorandum of Understanding (MoU) was signed on 21 October 2026 in Conakry, Guinea, on the sidelines of the fifth UK–West and Central Francophone Africa Trade and Investment Forum.
The agreement was signed by Abdul Kamara, Officer in Charge and Vice President of the AfDB Group, and Tim Reid, Chief Executive of UKEF. It establishes a structured mechanism for the two institutions to identify, assess, and develop co-financing opportunities for both sovereign and non-sovereign operations in AfDB regional member countries.
The partnership combines development finance with export credit to crowd in additional public and private capital for Africa’s strategic investments. Priority sectors include energy, infrastructure, water and sanitation, health, digital infrastructure, critical minerals, supply chain resilience, agriculture, and trade finance.
“Africa’s financing needs call for partnerships that bring additional capital to the continent at scale,” Kamara said, adding that the agreement “opens new opportunities to finance the infrastructure and investments that will drive Africa’s growth”. Reid echoed that by combining financial instruments and expertise, the institutions can “unlock greater co-financing for the infrastructure, energy and trade priorities that matter most to Africa’s growth”.
The framework does not disclose a specific financing amount, initial project pipeline, or schedule for individual transactions, meaning its practical impact will depend on project eligibility, financing terms, and the conversion of opportunities into approved deals. The agreement also builds on the UK’s longstanding relationship with the AfDB Group, dating back to its membership in the African Development Fund in 1973.
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