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KOICA to double ODA for six ASEAN countries

The Korea International Cooperation Agency (KOICA) is planning to double official development assistance (ODA) for six members of the Association of Southeast Asian Nations (ASEAN) by 2023.
KOICA to double ODA for six ASEAN countries ảnh 1Vam Cong Bridge links Dong Thap province and Can Tho city of Vietnam. Its construction was funded through official development assistance of the Republic of Korea (Photo: VNA)

Seoul (VNA) – The Korea International Cooperation Agency (KOICA)is planning to double official development assistance (ODA) for six members ofthe Association of Southeast Asian Nations (ASEAN) by 2023.

Accordingly, KOICA will increase thecombined ODA for Laos, Myanmar, Vietnam, Cambodia, Indonesia, and the Philippinesto 180.4 billion won (151 million USD) by 2023 from 87 billion won this year.

This plan is in line with the Republic of Korea (RoK)'s "New Southern Policy". It also matches KOICA's visionfor the implementation of its ODA programmes for the countries, which includeproviding support for education, rural and urban development, information andcommunications technologies, and transportation.

"KOICA will contribute to achieving theSustainable Development Goals in ASEAN countries by increasing the scale of ODAin ASEAN countries by 20 percent annually and advancing the integration,effectiveness, and efficiency of ODA through the collaboration with internaland external partners," the agency said in its vision statement.-VNA
VNA
#Korea International Cooperation Agency#KOICA#official development assistance#RoK's ODA for ASEAN countries#New Southern Policy#ASEAN-RoK relations#updated Vietnam news#Vietnam News Agency#Vietnamplus
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