African Development Bank and Korea Environmental Industry and Technology Institute sign agreement to deploy environmental and climate-resilient technologies in Africa.
He said the priority areas within the agreement were in line with the 2023 KOAFEC Ministerial Conference, which focused on agriculture and energy. Recently, the African Development Bank’s African Economic Outlook 2022 estimated that climate change threatens to undermine Africa’s economic performance, reducing GDP by up to 15% by 2050.
“KEITI will support project preparation for environmental projects in water, energy, climate change, circular economy and environment,” Dr. Woo-Weon said.The African Development Bank is spearheading efforts to support climate-resilient and low-carbon development in Africa. The Bank is doing this through investments that support the achievement of the goals of the Paris Agreement.
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