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South Korea To Double Development Aid To Africa 77 days ago
(RTTNews) - South Korea pledged to double its development aid to Africa over the next three years to help the continent fight poverty and grow sustainably.
By increasing aid to more than $200 million a year by 2012, Seoul also aims to better reach out to the continent rich in energy resources, growth potential and business opportunities.
Under an agreement signed by the Foreign Ministers of South Korea and 15 African Union states, the east Asian country's overseas development assistance (ODA) to Africa will increase two-fold by 2012 from last year's $107 million.
The agreement was reached during the South Korea-Africa cooperation forum in Seoul Tuesday.
Seoul started the 'Korea Initiative' aimed at helping economic development in Africa in 2006.
Addressing the forum, South Korean Prime Minister Chung Un Chan said his country was "willing to share its experience and know-how with Africa in raising and developing human resources."
Over the next three years, Seoul will invite 5,000 Africans and send 1,000 volunteers there to help train workers, he added.
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