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S. Korea's aid agency to double ODA to ASEAN countries by 2023

All News 16:50 May 17, 2019

SEOUL, May 17 (Yonhap) -- South Korea's overseas aid agency on Friday unveiled a plan to double official development assistance (ODA) for six Southeast Asian countries by 2023 in line with Seoul's diplomatic outreach toward the region.

Under the plan, the Korea International Cooperation Agency (KOICA) will increase the combined ODA for Laos, Myanmar, Vietnam, Cambodia, Indonesia and the Philippines to 180.4 billion won (US$151 million) by 2023 from 87 billion won this year.

The plan is in tune with KOICA's vision for the implementation of its ODA programs for the countries, which include providing support for education, rural and urban development, information and communications technologies, and transportation.

KOICA President Lee Mi-kyung and other officials held a ceremony to announce the vision in Hue, Vietnam, amid Seoul's push to deepen ties with the Association of Southeast Asian Nations (ASEAN) under its "New Southern Policy."

"KOICA will contribute to achieving the SDGs in ASEAN countries by increasing the scale of ODA in ASEAN countries by 20 percent annually and advancing the integration, effectiveness, and efficiency of ODA through the collaboration with internal and external partners," KOICA said in its vision statement.

SDG refers to the United Nations' Sustainable Development Goals aimed at ending poverty, fighting inequality and injustice, and tackling climate change.


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