This undated file photo provided by the Ministry of Economy and Finance shows its office in the government complex in Sejong, about 120 kilometers south of Seoul. (Image courtesy of Yonhap)
SEOUL, May 27 (Korea Bizwire) – South Korea will work to strengthen cooperation with the World Bank as part of efforts to help developing nations advance their agriculture and food technologies, Seoul’s finance ministry said Tuesday.
The Ministry of Economy and Finance held an annual meeting with officials from the World Bank in the southeastern port city of Busan to evaluate their collaboration projects under the Korea-World Bank Group Partnership Facility (KWPF) and discuss bilateral cooperation in future development assistance programs, according to ministry officials.
The KWPF is the biggest trust fund created by South Korea within the World Bank to provide assistance to developing countries in various sectors, from digital, health, agriculture and energy to job creation and innovation.
Since its establishment in 2013, the KWPF has provided a combined US$46.8 billion in support to 99 nations.
At this year’s meeting, the finance ministry and the World Bank assessed their joint projects aimed at transferring South Korea’s technologies in digital and eco-friendly agriculture sectors to Tanzania, Kenya and five other countries, and discussed ways to expand their partnership.
(Yonhap)
