South Korea to Hike Development Grants

Officials and volunteers of the Korea International Cooperation Agency pose with Paraguayan President Fernando Lugo in December 2008. KOICA eyes a 15 percent increase in its grant budget for 2011. Photo by: Fernando Lugo APC / CC BY-NC-SA Fernando Lugo APCCC BY-NC-SA

South Korea is expected to augment its grant assistance to developing nations next year.

The Korea International Cooperation Agency’s grant budget proposal for 2011 is 15 percent higher than the budget for this year. The country’s National Assembly needs to approve the budget proposal.

The increased funding will be used to enhance public relations, research and education as well as dispatch volunteers worldwide. KOICA intends to launch vocational training programs for young people, as well as hire 25 more employees and expand three of its offices, Arirang News reports.

Meanwhile, Ethiopia will receive USD100 million from KOICA to boost water supply, build primary schools, and support electricity and solar energy projects. The funding will be disbursed from 2011 to 2013. KOICA’s assistance to Ethiopia focuses on health, education and rural development, according to The Reporter.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.