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Seoul to Offer US$5.15 mil. to Developing Nations for ODA Projects

Written: 2020-07-31 14:50:25Updated: 2020-07-31 17:58:13

Seoul to Offer US$5.15 mil. to Developing Nations for ODA Projects

Photo : YONHAP News

The Ministry of Economy and Finance announced Friday that it will provide a total of 5-point-15 million dollars to six developing nations in support of various projects ranging from establishing green growth and digital infrastructure to an improved COVID-19 response.

The aid will be provided through the Korea-World Bank Partnership Facility(KWPF) and Korea-IFC Partnership Program(KIPP).

Through the KWPF, the government will help Uganda boost its agricultural productivity by providing advice on innovative agricultural technology. It will assist Kyrgyzstan with digital projects such as building educational infrastructure to boost the country's digital capacity.

Through the KIPP, South Korea will help Vietnam and Cambodia boost efficiency in their manufacturing and agricultural sectors by providing advice on eco-friendly technologies. It also plans to assist Colombia in strengthening its COVID-19 response by applying quarantine-related digital solutions, and support Haiti in transitioning its textile industry to manufacture personal protective equipment.

Seoul hopes that these projects will bolster international cooperation and contribute to South Korea's playing a leading role in the official development assistance(ODA) sector as it relates to the environment, smart cities and ICT.

The head of the World Bank's South Korea office said developing nations are expressing more interest in the sharing and transfer of digital and green technologies that use ICT rather than traditional ODA.

He also expressed gratitude for the Korean government's swift approval of the projects despite the COVID-19 pandemic.

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