The Economic Development Cooperation Fund (EDCF) of South Korea, which implements concessional loans, announced that it will provide US$100 million to Bangladesh. The funding will be used to support Bangladesh's economic recovery, including enhancing marginalized groups’ access to finance.
The concessional loan will be part of the joint program among the EDCF, Asian Development Bank, Asian Infrastructure Bank (AIIB), and the OPEC Fund for International Development. The loan marks the first joint financial action between EDCF and AIIB. Bangladesh is a priority partner country of both South Korea’s official development assistance (ODA) and its New Southern Policy.