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Vietnam Today

KOICA to boost ODA in ASEAN

Released at: 17:03, 23/05/2019

KOICA to boost ODA in ASEAN

Photo: KOICA Vietnam

Overseas development assistance to double by 2023 in Vietnam and five other ASEAN members.

by Jessica Nguyen

The Korea International Cooperation Agency (KOICA) has said it will more than double the official development assistance (ODA) fund for six ASEAN members in 2023 to respond to the South Korean Government’s foreign policy towards the region.

The declaration was made at the “Announcement ceremony of the plan to implement official development assistance (ODA) capital under KOICA’s New South policy” held on May 17 in Hue.

Attending the ceremony were Mrs. Lee Mi Kyung, Chairman of KOICA, and national directors of KOICA representative offices in the ASEAN countries of Vietnam, Laos, Myanmar, Cambodia, Indonesia, the Philippines, and East Timor. KOICA has been developing plans to implement ODA projects that respond to the New South policy and will cement the plan through several meetings to be held after the announcement ceremony.

On behalf of the national directors of KOICA offices in ASEAN countries, Mr. Kim Jin Oh, National Director of the KOICA Vietnam Office, presented a speech on “Messages and visions of ODA implementation under South Korea’s New South policy”, one of the ODA implementation plans to contribute to the country’s strategy of building a common community in the future between South Korea and ASEAN countries based on human values, peace, prosperity, and global environmental protection.

KOICA will make efforts to help ASEAN countries achieve the UN’s Millennium Development Goals by increasing the size of ODA programs in ASEAN by 20 per cent each year, while promoting integration and the efficiency of ODA programs through coordination with domestic and foreign partners.

Specifically, KOICA will increase ODA funds for Laos, Myanmar, Vietnam, Cambodia, Indonesia, and the Philippines from 87 billion won to 180.4 billion won (about $151 million) by 2023. The plan is in line with the orientation of KOICA in implementing ODA programs for these countries, including support for education, rural development, information communications technology (ICT), urban development, and transportation.

It is also in line with the common vision of ASEAN countries and the South Korean Government’s strategy of building a common community in the future between South Korea and ASEAN. At the same time, it is in line with the Millennium Development Goals, which aim to end poverty, fight inequality and injustice, and deal with climate change.

“KOICA will contribute efforts to effectively implement the New South policy to effectively support ODA and realize the building of a friendly community between South Korea and ASEAN countries in the future,” Mrs. Lee Mi Kyung said.

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