SEOUL– South Korea decided Wednesday to expand next year’s budget for overseas development grants by 15.3 percent year-on-year.
The foreign ministry earmarked 2.13 trillion won (US$1.78 billion) for 2022 ODA grants, up from this year’s 1.85 trillion won. Under the plan, 44 institutions will carry out 1,550 grant-type ODA projects next year.
By region, Asia accounts for 25.7 percent of the budget in 2022, followed by Africa with 14.2 percent, and Central and South America with 5.8 percent, according to the ministry, which is in charge of the nation’s overseas development grants program.
By sector, humanitarian aid represents 16.6 percent, followed by education with 12.5 percent, and agriculture and fisheries with 9.5 percent.
Source: Yonhap News Agency