The African Development Bank Group and the Korea Advanced Institute of Science and Technology signed a letter of intent in Seoul to promote digital transformation across Africa, establishing a three-year framework to build regional capacity in artificial intelligence, digital governance, and knowledge transfer.
Seoul Agreement Establishes Three-Year Digital Framework
According to the African Development Bank, the agreement was finalized on September 9, 2026, during the eighth Ministerial Conference for Korea-Africa Economic Cooperation. Ousmane Fall, director of the Bank’s Industrial and Trade Development Department, and Seung Hun Han, dean of the Graduate School of Global Digital Innovation at KAIST, signed the document. The partnership aligns the pan-African institution’s development mandate with the research capabilities of the Asian university to support digital strategies across the continent.
Did you know? The Republic of Korea has been a member of the African Development Bank since 1982 and the African Development Fund since 1980, making it a partner in regional development initiatives.
AI Research, Strategic Policy, and Public Training
The cooperation framework focuses on several core areas, including joint research and development on public policies and artificial intelligence datasets. According to project outlines, the initiative will deliver strategic studies and consulting to guide African nations through digital transitions. Ousmane Fall noted that the partnership aims to build a solid digital ecosystem based on skills, research, and innovation. Training programs targeting public officials, researchers, and technical experts form a central pillar of the agreement, drawing on KAIST’s track record of training public sector engineers worldwide.
Economic Projections and Bilateral Funding History
Artificial intelligence could add up to $1 000 milliards to Africa’s gross domestic product starting in 2035, generating nearly 4 percent in additional growth, provided the continent invests in compute capacity, data, skills, trust, and financing, according to African Development Bank estimates. Korea supports these digital ambitions through the KOAFEC Trust Fund, launched in 2006. As of May 31, 2026, cumulative Korean contributions reached $132,82 millions. Approximately $50 million of this total has funded more than 40 technical assistance and project preparation operations, unlocking over $6 milliards in investments and mobilizing at least $4 milliards in financing while supporting over 1,300 African startups and entrepreneurs.
Frequently Asked Questions
What is the duration of the agreement between the African Development Bank and KAIST?
The agreement establishes a three-year framework for cooperation in digital transformation, artificial intelligence, and capacity building.
Who signed the letter of intent in Seoul?
Ousmane Fall, director of the Industrial and Trade Development Department at the African Development Bank, and Seung Hun Han, dean of the Graduate School of Global Digital Innovation at KAIST, signed the document.
How much financial contribution has Korea made to the KOAFEC Trust Fund?
Cumulative Korean contributions to the KOAFEC Trust Fund reached $132,82 millions as of May 31, 2026, according to Bank data.
What are the projected economic impacts of AI in Africa?
According to African Development Bank estimates, artificial intelligence could contribute up to $1 000 milliards to Africa’s GDP starting in 2035 under conditions of adequate investment in digital infrastructure and skills.
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