It brought together numerous African economic experts, including AfDB Vice President Kevin Urama , to discuss current issues related to Africa's economy and exchange views  on how to strengthen cooperation between Asia and Africa for sustainable growth.

In his opening remarks, Vice President Sung-Chun Jeong noted that "amidst the uncertain global economic situation, Africa's confrontation with high inflation and deteriorating fiscal soundness is hindering its development." He expressed the hope that this seminar would expand opportunities for cooperation between Africa and Asia for sustainable economic growth.

Prof. Kevin Urama, Chief Economist and Vice President of the AfDB, presented the contents of the Africa Economic Outlook Report, predicting that Africa's economy would improve in 2023 compared to 2022. However, factors such as a global trend of rising interest rates, supply chain instability, and climate change would exert downward pressure, resulting in projected economic growth rates of 4% and 4.3% for 2023 and 2024, respectively.

There was a roundtable discussion with Hong Miao, an energy expert and program director at the World Resources Institute in China; Sungbae An, director of the  International Macroeconomics & Finance Department at  KIEP; Kohji Mitomori, director of the Office for Climate Change in the Global Environment Department of the Japanese International Cooperation Agency (JICA); and Munsu Kang, head of the Africa and Middle East Team at KIEP.

- Title: AfDB-KIEP Seminar: Presentation of the African Economic Outlook 2023

- Theme: Mobilizing Private Sector Financing for Climate and Green Growth in Africa

- Date: July 12th, 2023, 16:00-18:00

- Venue: Room 424, KIEP (4F)

- Organization: Korea Institute for International Economic Policy (KIEP), African Development Bank (AfDB)

- Contact: Yeo Eun Choi, Africa and the Middle East Team, KIEP (junechoi@kiep.go.kr, 044-414-1256)