Next Year's ODA Budget Set At 3.5 Tln Won
Rukhshan Mir (@rukhshanmir) Published June 22, 2018 | 01:20 PM
The government set next year's budget for official development aid at 3.5 trillion won (US$3.16 billion) on Friday, with a focus on projects aimed at helping developing countries stand on their own feet, officials said.
SEOUL, (UrduPoint / Pakistan Point News - 22nd Jun, 2018 ) :The government set next year's budget for official development aid at 3.5 trillion won (US$3.16 billion) on Friday, with a focus on projects aimed at helping developing countries stand on their own feet, officials said.
The decision was made during a meeting of the government committee on official development assistance presided over by Prime Minister Lee Nak-yon. Next year's budget represents a 14.5 percent increase from this year's 3 trillion won.
Of the total, about 2.26 trillion won, or 65 percent, will be spent on projects supporting the United Nations' sustainable development goals designed to lay the foundations for developing countries to stand on their own feet, officials said.
About 154.4 billion won will be spent on food provision and other humanitarian crisis response projects.
The government will train ODA experts and provide them with jobs, officials said.
The budget will be divided among 1,472 projects, up from this year's 1,312.
About 60 percent of the budget will be spent on projects for Asian and African nations in areas where South Korea has a competitive edge, such as transportation, healthcare and education, officials said.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From Business
-
Exchange rates for currency notes
1 hour ago -
Foreign exchange rates
2 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
2 hours ago -
Today Gold Rate in Pakistan 26 April 2024
3 hours ago -
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
12 hours ago -
Pak-US officials engage to enhance trade, investment ties
13 hours ago
-
Stocks fall as tech shares sink, US economy slows
13 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
14 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
14 hours ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
14 hours ago -
Honda announces US$11 bn EV battery and vehicle plant in Canada
14 hours ago -
Zhao Shirin calls on Punjab Industries Minister
15 hours ago