Bangladesh and South Korea have signed a framework agreement to increase aid volume in a bid to promote poverty reduction, sustainable economic and social development in the country.
The Korean government has pledged to increase its official development assistance to 0.25% of gross national income by 2015 and this agreement would help Seoul to increase the volume of its aid to Bangladesh, said a press release.
The framework agreement, signed Tuesday, will facilitate the development cooperation programmes of Korea International Cooperation Agency (KOICA).
At present KOICA is supporting Bangladesh in health, education, and governance sectors according to the Country Partnership Strategy for Bangladesh (2012-2015).
KOICA is implementing eight development projects with a total cost of $42.7 million including the $13.75 million project for Establishment of National Institute of Advanced Practice Nurses in Bangladesh.
So far, more than 1500 government officials received professional trainings and master degrees from different specialised Korean institutions and universities under KOICA’s training programmes.
Since 1993 KOICA has dispatched more than 460 Korean overseas volunteers and experts to Bangladesh to work in the government institutions for providing technical support to develop the capacity of those host organisations.
KOICA also supported Bangladesh in rural and agricultural development, ICT and reducing climate change impacts.
South Korean Ambassador Lee Yun-young appreciated Bangladesh’s growth and performance in socio-economic development and achieving MDGs during the programme.
He hoped that Bangladesh could follow the Korean model of development, as Korea once an aid recipient developing country, achieved its remarkable development through proper utilisation of its human capital, foreign assistance and others.
