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Economic Development Cooperation Fund

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From Wikipedia, the free encyclopedia

The Economic Development Cooperation Fund (EDCF) (Korean: 대외경제협력기금) is an agency created by the government of South Korea in 1987 to promote economic cooperation between South Korea and developing countries.[1][2] In addition to the EDCF, South Korea provides official development assistance (ODA) through the Korea International Cooperation Agency.[3]

The more than 500 projects[4][5] the EDCF has worked on to provide international cooperation include:

  • US$70 million in loans to Ghana and Tanzania
  • US$200 million in aid to Bangladesh, the Philippines and Cambodia[6]
  • The Jalaur River Multi-Purpose Project Stage II[7]
  • Up to US$8 billion in long-term loans to Ukraine[8]
  • US$1.7 billion for 30 development projects in Bangladesh[9]

In 2025, the Ministry of Economy and Finance announced 14.1 trillion won in ODA to be provided over the following three years.[10]

References

[edit]
  1. ↑ "Economic Development Cooperation Fund (EDCF)". devex. Retrieved 11 May 2025.
  2. ↑ "Economic Development Cooperation Fund Act". Korean Legislation Research Institute. Retrieved 11 May 2025.
  3. ↑ "Korea's ODA". Ministry of Foreign Affairs. Retrieved 11 May 2025.
  4. ↑ "Government Enhances EDCF Cooperation with 21 African Nations". Ministry of Economy and Finance. Retrieved 11 May 2025.
  5. ↑ Im, Eun-byel. "Eximbank holds workshop on development financing". The Korea Herald. Retrieved 11 May 2025.
  6. ↑ "Press Release: Korea Approves EDCF Funds to Asian and African Countries in Fight against COVID-19". Retrieved 11 May 2025.
  7. ↑ jrmpiiadmin. "Koreamazing". GOVPH. Retrieved 11 May 2025.
  8. ↑ "Ukraine to receive up to $8 bln from S. Korea's EDCF - Economy Ministry". Interfax. Retrieved 11 May 2025.
  9. ↑ "Bangladesh, S Korea sign $3bn EDCF deal for development". DhakaTribune. Retrieved 11 May 2025.
  10. ↑ "Press Release: The Operational Direction for the Economic Development Cooperation Fund over the Next 3 Years Established". Korea.net. Retrieved 11 May 2025.


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