South Korea signs agreement with Guatemala to expand scope of ODA projects
Korea International Cooperation Agency (KOICA) and Guatemala signed an agreement on grant assistance on August 20, 2019. According to the agreement, South Korea will implement various forms of official development assistance (ODA) including projects, trainings, the dispatch of experts and volunteers, and the import of equipment for development cooperation.
In return, the Guatemala government will provide South Korea with access to experts and human resources for assistance projects and ensure tax exemption for assistance shipments. The agreement also means that KOICA can now work in the country with the same status as other international organizations including UNDP, UNICEF, USAID, and DFID; although KOICA established its office in Guatemala in 2004, there was no legal basis for the two countries’ grant ODA until this time. Both countries expect this agreement to help expand development cooperation.