The African Development Bank Group and UK Export Finance have signed a memorandum of understanding to strengthen the financing of public and private sector projects across Africa, in a move aimed at attracting more capital for infrastructure and economic development.

The agreement was signed on October 21, 2026, on the sidelines of the fifth West and Central Africa Forum on Trade and Investment (WCAF V) in Conakry. It establishes a framework for the two institutions to work together to identify and co-finance projects in key sectors of African economies.

The partnership covers areas including energy, transport, healthcare, digital infrastructure, agriculture, water and sanitation, critical minerals and trade finance.

Under the arrangement, the African Development Bank will work with UK Export Finance, the British government’s export credit agency, to combine their financial instruments and help mobilise additional funding for eligible projects.

The initiative is intended to support both sovereign operations involving governments and public entities, and non-sovereign projects involving private companies and other eligible borrowers.

For African economies facing substantial infrastructure and investment needs, combining development finance with export credit guarantees could help improve access to financing and attract other investors. The partnership could also create opportunities for British companies to supply equipment, technology and services for projects supported under the framework.

However, the memorandum does not, in itself, represent a commitment to finance a specific project or a newly announced funding package of a defined amount. The scale of investment ultimately mobilised will depend on the projects selected, their financial viability and the financing arrangements agreed by the partners.

The agreement also reflects the United Kingdom’s efforts to expand commercial ties with African countries while supporting British exporters in international markets.

Its impact will depend on how quickly the two institutions translate the cooperation framework into concrete projects, secure financing and deliver investments that contribute to economic growth and essential public services across the continent.