KOICA to double ODA for six ASEAN countries

Saturday, 2019-05-18 21:54:25
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Vam 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)
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NDO/VNA – 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.

Accordingly, 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.

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

"KOICA will contribute to achieving the Sustainable Development Goals 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," the agency said in its vision statement.