South Korea intends to double its annual emergency aid budget to 19 billion won (USD16 million) next year, according to an official of the Korea International Cooperation Agency.
“The Prime Minister’s Office has decided to gradually increase the funding for overseas emergency aid and eventually set aside 6 percent of the country’s official development assistance (ODA), or roughly 300 billion won, by 2015,” Kim Min-jong told The Korea Times.
Kim added that the South Korean government plans to hike KOICA’s budget for Asian, Pacific and African countries next year.
South Korea has allocated 1.6 trillion won, or 0.14 percent of its gross national income, to development aid in 2011.
To improve the delivery of its development aid, South Korea looks to impact evaluation, which a World Bank official says is “forceful and positive news.”
“We have long said that learning what works is necessary to make sure aid is effective. Impact evaluation, of course, is also about ensuring – or promoting – good governance. For many developing countries, the public sector is the key delivery method for services, ranging from education to health and jobs training, and so when we talk about what works, we are also talking about what makes for good, effective governance,” Ariel Fiszbein, chief economist of the Human Development Network at the bank, writes in a blog.
Meantime, KOICA is supporting a USD7.45 million education project in Cambodia. The project seeks to build a human resources development center at the Royal University of Phnom Penh. It also seeks to bolster the capacity of government officials, teachers and instructors of relevant organizations, according to a KOICA release.
The South Korean government is also working on a new bilateral cooperation program with the Philippines, the Philippine National Economic Development Authority said.
The Multi-Industry Cluster program will finance feasibility studies on agro-industrial development. It is expected to be presented to the Philippine government by January and will be piloted in the provinces of Isabela, Quirino and Misamis Oriental, Business World reports.