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Mid-term Strategy (2008-2010)
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The Korean government held the second meeting of the Committee for International Development Cooperation in July 2007 chaired by the Prime Minister and carried out the deliberation and confirmation of the ¡®ODA Mid-term Strategy (2008-2010).¡¯
The ¡®ODA Mid-term Strategy (2008-2010)¡¯ was formulated to increase ODA efficiency, build a foundation for maintaining policy coherence, and especially build more trust in Korea¡¯s ODA policy in the international community by presenting its ODA goals and directions.
Being the world¡¯s 13th largest economy and considering its status in the international community, Korea recognizes the need to actively participate in the world¡¯s effort to achieve the UN Millennium Development Goals (MDGs). Thus, Korea is engaged in promoting its ODA to support poverty eradication and socio-economic development in developing nations, thereby contributing to the achievement of the MDGs.
(1) Mid-term ODA Strategy
1. ODA Strategy by Region
Regionally,while maintaining assistance to Asian nations, Korea will expand humanitarian assistance to African nations as part of the international community¡¯s efforts to reach the MDGs. ¡®Korea¡¯s Initiatives for Development in Africa¡¯ and promote economic cooperation with low-income but resource-abundant nations) With a precise understanding of the needs of recipient countries and in harmony with their development policies, assistance strategies will be formulated for the provision of strategic and comprehensive aid.2. ODA Strategy by Sector
Korea supports sectors which conform to the MDGs and in which Korea has comparative advantage in. Those are human resources development (education and training), healthcare, administrative system, information technology, rural development and maritime fisheries, industry infrastructure and energy, and environmental protection.3. Multilateral Assistance Strategy
With the International Development Association (IDA) and African Development Bank (ADB) as the hub and through the ¡®Multilateral Debt Relief Initiative (MDRI)¡¯ for debt relief of highly indebted developing nations, Korea actively participates in the international community¡¯s efforts to alleviate poverty.
¡Ø Multilateral Debt Relief Initiative (MDRI): A program for debt relief of developing nations with high debt levels agreed at the G8 Financial Ministry Conference in June, 2005.
In addition, Korea is determined to explore and promote cooperation projects with main multilateral development organizations (UNDP, WB, ADB) and micro-project businesses with local development organizations like AU, and provide financial assistance.
(2) Enhance Mid-term ODA Capacity
1. Foster Foreign Aid Professionals
Support the establishment of academic courses in specialized universities, activate interaction with development organizations and promote the entry of Koreans into international organizations
2.Enhance global cooperation network and mutual assistance
Strengthen relationship with multilateral organizations and main donor countries by promoting cooperation projects and aid policy discussions. Share assistance policies and experiences and increase communication by hosting events like international ODA conferences
3. Strengthen Research Ability
Consider the establishment of the ¡®Research Complex Center¡¯ that professionally carries out research on ODA. Build up data base (DB) through foreign aid networks that cover information on partner countries as well as assistance projects undergone and underway.
4. Join the DAC
Plan a roadmap to join the DAC in order to raise Korea¡¯s ODA standards and better harmonize with assistance policies of other donor countries.
5. Intensify Evaluation and Monitoring
Led by the Committee for International Development Cooperation, Korea will enhance its monitoring and evaluation mechanisms, and thus improve the processing and results of future projects.
