Photo : YONHAP News
The finance ministry said Thursday that South Korea and Laos held a policy consultation meeting on official development assistance (ODA) programs.
The ministry said the third ODA policy consultation meeting took place in the Laotian capital city Vientiane on Wednesday. It marks the first such a meeting between the two nations after a four-year hiatus due to the COVID-19 pandemic.
During the meeting, the two sides agreed to expand cooperation in the areas of water resources, energy, health, education and regional development under the ODA programs.
Through the programs, South Korea hopes to help the Southeast Asian nation step up from the least developed country status by 2026.
As for the Economic Development Cooperation Fund (EDCF), one of South Korea’s foreign assistance programs, the two sides discussed candidate projects and the need to renew the basic agreement, which expired last year.