2011 South Korea ODA: $1.5B

South Korean flag. The country is eyeing to spend 1.7 trillion won to support development efforts in African, Asian and Latin American countries. Photo by: Parisa / CC BY-NC-SA

For 2011, the South Korean government is eyeing to spend 1.7 trillion won ($1.52 billion) to support development efforts, particularly building economic and industrial infrastructure in poor African, Asian and Latin American countries.

The planned official development assistance this year includes 600 billion won in concessional loans, 600 billion won in grants, and 500 billion won in multilateral cooperation business funding, Yonhap reports, citing a March 6 announcement from the country’s finance ministry.

The concessional loans will target the development of green industries and will be offered through the Economic Development and Cooperation Fund, the ministry added.

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.