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S. Korea to share expertise with African countries on green growth

All News 17:06 April 03, 2017

SEJONG, April 3 (Yonhap) -- South Korea said Monday it plans to share its expertise with several African countries this week on developing sustainable growth models.

South Korea is also set to discuss "Green Growth" programs with Tanzania, Kenya and other African countries in cooperation with the World Bank, according to the Ministry of Strategy and Finance.

More than 110 officials from South Korea, African countries and the World Bank are scheduled to attend the fourth annual Korea Green Innovations Days set for Tuesday through Thursday in the Tanzanian capital city of Dar es Salaam, the ministry said.

It will mark the first annual meeting in that country. So far, South Korea and the World Bank have held three previous meetings in Washington D.C. and Seoul.

South Korea created the Korea Green Growth Trust Fund in 2011 in partnership with the World Bank to help client countries embrace green development.

Seoul has been pushing to go green by switching to renewable energy sources and reducing greenhouse gas emissions that scientists say are to blame for global warming.

The Trust Fund finances and facilitates the sharing of Green Growth technical expertise by utilizing South Korea's experiences, expertise, and investments, according to the World Bank.

The fund has approved 80 programs totaling approximately US$41 million in the urban, transport, information and communication technology, energy, environment, water, and climate sectors, the World Bank said.

The World Bank said the fund -- which was replenished at the end of 2015 -- will expand to a US$88 million World Bank Group program by 2021.

South Korea has become a donor country from being a recipient of U.N. aid in half a century, a transformation that has inspired many developing nations to follow in the footsteps of the Asian country in advancing their economies.

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