Expecting Synergy Creation through Knowledge and Competency Sharing
Activation of Grant and Loan Aid Projects in Digital and ICT Sectors for Developing Countries
On the 29th, the Export-Import Bank of Korea announced on the 1st that it signed a "Mutual Cooperation Agreement on Digital Sector International Development Cooperation Projects" with the National IT Industry Promotion Agency (NIPA) at its Yeouido headquarters.
International development cooperation projects include grant or concessional development cooperation projects directly or indirectly provided by national or local governments or public institutions to developing countries for their development and welfare enhancement, as well as multilateral cooperation projects provided through international organizations.
The main contents of the agreement are ▲ establishing cooperative relationships for international development cooperation projects in the digital and ICT sectors ▲ sharing knowledge and capabilities ▲ activating technical reviews ▲ establishing a system for discovering linked grant and concessional aid projects ▲ sharing development cooperation networks and related information.
Following the signing of this agreement, NIPA will provide ongoing technical advice on the Digital and ICT sector projects funded by the Economic Development Cooperation Fund (EDCF), and the Export-Import Bank of Korea will use this to streamline technical reviews and promote project progress, greatly enhancing the effectiveness of aid projects.
President Yoon said, "With this agreement, the Export-Import Bank of Korea's experience in international development cooperation and NIPA's expertise in ICT and digital sectors can create synergy," adding, " I hope that through the exchange of expertise and personnel between the two institutions, it will help the efficient progress of international development cooperation projects in the digital and ICT sectors and the establishment of a new project discovery system."
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