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Budget for Overseas Aid to Expand by 14% Next Year

Written: 2022-08-30 16:37:05Updated: 2022-08-30 19:40:24

Budget for Overseas Aid to Expand by 14% Next Year

Photo : YONHAP News

The nation's official development assistance(ODA) budget for next year will be bolstered in line with the Yoon Suk Yeol administration's objective of becoming a global leader contributing toward liberty, peace and prosperity.

According to the government's 2023 budget plan released on Tuesday, four-point-five trillion won has been earmarked for aid to developing countries, up 14-point-two percent from this year.

Two-hundred-74 billion won will be spent on humanitarian relief, including assistance for civilians affected by the ongoing war in Ukraine or victims of the global food crisis.

Of the total, the government plans to provide 100 million dollars to the Access to COVID-19 Tools Accelerator partnership designed to accelerate treatment and vaccination development and ensure equitable deployment.

Two-point-eight trillion won will be used for Seoul's cost-sharing within international agency initiatives.

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