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S.Korea Finalizes Overseas Assistance Plans

Written: 2011-08-26 16:17:38Updated: 2011-08-26 19:37:25

S.Korea Finalizes Overseas Assistance Plans

The government held a meeting on Friday and finalized its plans to provide official development assistance to developing nations.

The Country Partnership Strategy (CPS) was established at the tenth Development Assistance Committee (DAC) meeting after coordinating with other donor nations. The CPS is a mid-to long-term assistance plan that combines grants and concessional loans .

Under the assistance plan to Vietnam, 80 percent of funding will be concentrated on the environment and green growth, vocational training, and transportation infrastructure over the next five years.

South Korea will allocate more then 70 percent of its assistance plan to Ghana in energy, health, environment, and basic education. For its plan regarding the Solomon Islands, 90 percent of assistance will go towards the fisheries industry, afforestation and health and medical care.

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