Korea Eximbank Hosts Workshop for Government Officials from Key African Partner Countries

Held Over 30 Times Since Its Inception in 1995
Participation from Over 450 Government Officials from 50 Developing Countries

The Ministry of Economy and Finance and the Export-Import Bank of Korea (Korea Eximbank) announced on June 23 that they are holding the '30th Economic Development Cooperation Fund (EDCF) Cooperation Workshop' from June 17 to June 25.

The EDCF Cooperation Workshop is an event that invites government officials from recipient countries to establish a foundation for cooperation, discuss the current status and management methods of EDCF projects, and promote smooth project implementation. Since its inception in 1995, the workshop has been held 30 times, including this session. Through these workshops, approximately 450 government officials from about 50 developing countries around the world have participated.

This year's workshop invited 18 government officials from key African partner countries to discuss the direction and development strategies for EDCF support to Africa, including increasing the proportion of EDCF support for Africa in consideration of development financing needs, and providing focused support in the green, digital, and supply chain sectors through initiatives such as the 'K-Finance Package'.

This workshop is particularly significant as it follows up on the 'Korea-Africa Summit,' which was held for the first time between Korea and Africa in June last year under the theme 'Shared Future: Co-Growth, Sustainability, and Solidarity'.

The invited officials broadened their understanding of Korea's Official Development Assistance (ODA) and EDCF through expert lectures and discussions. They also visited organizations such as Korea Railroad Corporation and the Global Knowledge Cooperation Complex to directly experience and learn from Korea's advanced technological capabilities in EDCF's key support areas.

Dereje Wedajeneh, Director General of the Ministry of Finance of Ethiopia, who attended the event, said, "This workshop has provided an opportunity to gain a deeper understanding of EDCF's support strategies and cooperation measures for Africa," and expressed hope that "it will serve as a foundation for further deepening exchanges and cooperation between EDCF and the African continent."

A Korea Eximbank official stated, "Cooperation between EDCF and Africa has been continuously expanding and now accounts for 25% of the total support volume," adding, "We plan to continue to strategically expand support and cooperation for Africa, focusing on key EDCF areas such as energy transition, digital transformation, and supply chain connectivity."

Meanwhile, the government and Korea Eximbank plan to continue expanding opportunities for exchange with developing country governments through workshops that link Korea's economic diplomacy and development cooperation, and to actively support the overseas expansion of Korean institutions and companies.