High-level strategy meeting proposes 22% increase to 2023 South Korean ODA project budget

South Korea’s Ministry of Foreign Affairs (MOFA) invited grant-related ministries and agencies to the fourth Meeting for Grant Development Cooperation Strategy.

Korea International Cooperation Agency (KOICA) and Export-Import Bank of Korea (Exim Bank) also attended the meeting to discuss South Korea’s grant strategy. This meeting is the highest-level consultative body that comprehensively coordinates grants and establishes strategies in South Korea. The 2023 Annual Implementation Plan was proposed at the meeting, which included provisions that expanded grant polic and projects for humanitarian assistance. The proposed ODA project budget totaled KRW2.6 trillion (US$2.1 billion), a 21.5% increase from 2022.

Press release – Ministry of Foreign Affairs (in Korean)

News article – Biztoday (in Korean)