Yoon "Providing $10 Million Support This Year to Address Africa's Food Crisis"

G20 'Global Hunger and Poverty Eradication Alliance Launch Ceremony'
'Pandemic Fund' to Contribute Additional $30 Million by 2028

President Yoon Suk-yeol is applauding at the launch ceremony of the Global Alliance for the Eradication of Hunger and Poverty during the 19th G20 Summit held at the Museum of Modern Art in Rio de Janeiro, Brazil, on the 18th (local time). Photo by Yonhap News

President Yoon Suk-yeol announced on the 18th (local time) that "South Korea plans to provide new humanitarian aid worth 10 million dollars within this year to respond to Africa's food crisis." He also expressed deep concern over North Korea's large-scale troop deployment to Russia and urged the Group of Twenty (G20) leaders to unite in action.

President Yoon made these remarks while attending the G20 Summit Session 1, the 'Launch Ceremony of the Global Alliance for Food Security and Poverty Eradication,' held in Rio de Janeiro, Brazil. He stated, "We will actively participate in the G20's efforts to overcome hunger and poverty going forward."

South Korea joined as a founding member of the Global Alliance for Food Security and Poverty Eradication on this day. President Yoon first explained, "The launch of the G20's 'Global Alliance for Food Security and Poverty Eradication' is highly meaningful amid worsening hunger and poverty in developing countries."

"Food aid to expand to 150,000 tons next year"

President Yoon said, "The scale of food aid through the United Nations World Food Programme (WFP) has doubled from 50,000 tons last year to 100,000 tons this year, and it is planned to expand to 150,000 tons next year." He emphasized, "South Korea will strengthen win-win partnerships with emerging economies and serve as a 'bridge of prosperity' connecting developing and developed countries."

South Korea held its first summit meetings with Pacific island countries and African nations last year and this year, and established a 'Comprehensive Strategic Partnership' with ASEAN last month. Next year, it plans to hold summit meetings with Central Asian countries.

President Yoon stated, "The fundamental solution to hunger and poverty is economic growth in developing countries, and the G20 must unite efforts to support the creation of growth engines in these countries." He added, "Developing countries should actively pursue structural reforms such as labor and education reforms and fiscal innovation for efficient use of finances."

South Korea's contribution to the International Development Association up 45% to 845.6 billion won

President Yoon explained, "To promote international investment in developing countries, South Korea led the conclusion of the 'Investment Facilitation Agreement for Development' with Chile in February this year." He added, "In December this year, at the '21st Replenishment Final Meeting of the International Development Association (IDA)' to be held in Seoul, we will support the successful completion of the replenishment." The IDA is an institution within the World Bank that provides long-term, low-interest loans or grants to low-income countries and replenishes its funds every three years.

In particular, the South Korean government plans to increase its contribution to 845.6 billion won for this 21st replenishment, a 45% increase from 584.8 billion won in 2021.

President Yoon emphasized, "As a founding member of the 'Pandemic Fund,' South Korea will actively participate in efforts to secure additional funding." He added, "Economic growth in developing countries can only be stably achieved under the firm maintenance of a rules-based order." The Korean government plans to contribute an additional 30 million dollars from 2026 to 2028, on top of the existing 30 million dollars contribution to the Pandemic Fund.

President Yoon strongly urged the immediate cessation of illegal military cooperation between Russia and North Korea, stating, "The Ukraine war is entering a critical phase due to North Korea's large-scale troop deployment to Russia."

He also said, "The outcome of the Ukraine war is an important test to determine whether the international community can block attempts to change the status quo by coercion and protect peace and prosperity," urging G20 leaders to demonstrate their will and unite in action to uphold the rules-based order.