KOREAN NET

The Ministry of Foreign Affairs on Jan. 21 holds a meeting on grant development cooperation at its headquarters in Seoul's Jongno-gu District. (Ministry of Foreign Affairs)

By Lee Jihae

This year's budget for grant assistance is set at KRW 2.84 trillion amid the acceleration of the country's actions as a global pivotal state.

The Ministry of Foreign Affairs on Jan. 21 in a strategy meeting on grant development cooperation at its Seoul headquarters finalized the figure and announced its intent to achieve practical results in aid projects.

To this end, 37 public agencies will promote 1,555 projects to bring about practical changes in beneficiary countries.

Second Vice Minister Kim Jina, who chaired the meeting, stressed the need for strategic grant aid in areas where global development needs correspond to Korea's strengths such as artificial intelligence, digital, culture, climate, the environment, energy, manufacturing, agriculture and health.

The ministry adopted a plan for the integration and innovation of grant aid and pledged to greatly boost the functions of an integrated platform centered on the Korea International Cooperation Agency (KOICA). The idea is to unify aid project needs scattered across ministries into KOICA to systematically manage the project cycle and create the best environment for synergy between the public and private sectors.

The relevant ministries at the meeting agreed on the need for an integrated system for grant assistance and cooperation to promote such aid through the expertise of each entity.

jihlee08@korea.kr