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Latin America and the Caribbean

Although Latin America and the Caribbean shows higher levels of income compared to other regions, it suffers some of the world’s worst inequalities along the national, regional, and ethnic divides. According to the World Bank, about 25% of the total population in this region is below the poverty line, 20.6% of whom live with less than two dollars per day as of 2007. In terms of development, problems of corruption, crime, accumulated foreign debt are regarded to undermine potential of social and economic growth.

The Korean government allocated about 7.9% of bilateral ODA budget to the Latin America and the Caribbean. Given limited amount of ODA to the region, Korea seeks ways to support our partner countries in the region for greater efficiency by focusing the region’s priority areas where Korea has comparative advantages; alleviating income and social inequalities, enhancing the administrative capacity and transparency of the governments, and ensuring sustainable development in the future. The Korean government will support these areas by sharing Korea’s development experiences with grants aid and technical cooperation as well as development economic infrastructure with concessional loans.

Country 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Bolivia 4.50 8.66 5.23 1.84 1.66 1.35 5.64 6.76 17.21 20.62
Dominican Republic 1.65 1.48 14.25 6.91 2.74 3.05 2.74 3.94 3.14 15.84
Colombia 0.25 0.18 1.42 1.38 6.97 8.17 5.37 21.61 20.04 15.12
Ecuador 0.21 3.35 3.62 2.75 3.83 16.85 23.40 20.62 10.26 11.63
Paraguay 1.92 5.95 4.78 4.85 11.63 5.71 8.29 8.78 10.76 11.54
Nicaragua 5.61 9.08 9.07 14.84 5.60 3.95 1.66 6.63 19.20 10.43
Peru 4.49 10.22 8.73 6.99 6.40 6.79 9.25 9.60 9.31 9.89
Honduras 1.05 3.11 9.85 4.47 6.45 4.75 3.70 1.95 3.67 5.83
El Salvador 0.33 1.13 1.96 3.95 4.31 4.93 4.60 3.89 4.66 3.62
Guatemala 2.28 2.77 4.03 3.95 5.45 4.88 5.01 2.73 4.39 3.20
Haiti 0.03 0.15 0.72 0.43 5.54 0.97 2.45 4.64 0.92 2.34
Costa Rica 0.65 1.73 0.83 0.09 0.19 0.23 0.25 0.69 1.60 0.59
Cuba .. .. 0.14 .. 0.02 0.04 .. 0.20 1.07 0.48
Jamaica 0.15 0.10 1.34 1.24 0.11 0.03 1.12 1.52 0.35 0.40
Mexico 0.33 0.35 0.90 0.79 0.55 0.53 0.27 0.40 0.81 0.38

* Source: QWIDS

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