Seoul: The South Korean government announced its decision to allocate US$3 million over a span of three years to support climate change initiatives in Central Asian nations. This initiative was revealed on Sunday and aims to bolster efforts in addressing environmental challenges in the region.
According to Yonhap News Agency, the South Korean finance ministry confirmed that the agreement for this donation to the Climate and Sustainability Project Preparatory Fund was signed last Friday. This took place during ministerial-level meetings in Kazakhstan as part of the CAREC program under the Asian Development Bank (ADB). The CAREC program involves a partnership of 11 countries and development partners with a focus on regional development and cooperation.
South Korea, a founding member of the ADB’s newly established fund, will provide the largest contribution among its founding members. The allocated funds are intended for building infrastructure, advancing energy projects, and supporting agriculture, fisheries,
and regional supply chain stabilization.
The ministry expressed that this fund is anticipated to enhance communication and partnerships between South Korea and Central Asian countries. It is hoped that Seoul’s contribution will pave the way for projects dedicated to combating climate change.