Korea needs to keep increasing aid flows in line with its ambitions, says OECD
A success story of international development itself, Korea is now a driving force in global aid, focusing on the neediest countries and shaping strategy by sharing its experience and bridging the gap between rich and poor countries. Korea will have even greater impact if it can produce a clear plan to increase aid volumes in line with its stated ambitions, according to a new OECD Review.
The latest DAC Peer Review of Korea notes a steady rise in Korean aid – from USD 1.2 billion to USD 2.25 billion – in the six years since the former recipient country joined the OECD Development Assistance Committee (DAC) as a donor in 2010. Globally, Korea focuses on inclusive growth, crisis prevention and development effectiveness, while in developing countries, its support includes highly concessional loans for national priorities such as renewable energy and roads.
Read the press release, available in English, French and Korean
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