The Office for Government Policy Coordination (Minister Kim Dong-yeon) hosted a “Joint Public-Private Forum for a Win-Win ODA Model*” jointly with related government agencies on November 11 to discuss the future of Korea’s ODA policy.

* Win-Win ODA Model: a model of ODA aimed at creating value for both the donor and recipient countries by providing aid that is tailored to the needs of the recipient country and, at the same time, by promoting employment and business opportunities abroad for Korean youths, SMEs, and medium-large companies.

The forum was held to discuss policy measures to customize ODA to the needs of recipient countries, to integrate grant-type and loan-type aid, and to promote private sector participation.

Over 300 participants from agencies controlling ODA loans (the Ministry of Strategy and Finance (MoSF) and the Export-Import Bank of Korea (Korea Eximbank)) and grants (the Ministry of Foreign Affairs (MoFA) and Korea International Cooperation Agency (KOICA)), ODA-related companies, NGOs, and academia took part in the forum.

It was the first time such a forum was hosted jointly by the two main government ministries responsible for Korean ODA, namely the Ministry of Strategy and Finance and the Ministry of Foreign Affairs, heralding a marked improvement in inter-agency coordination and communication.

Minister Kim Dong-yeon of the Office for Government Policy Coordination stressed in his opening remarks the need “to tailor ODA to the needs of recipient countries and for related government agencies to coordinate their effort toward that end.” The Minister added that “at the same time, it is also important to utilize ODA as an opportunity to pioneer new markets and job opportunities overseas for Korean businesses and youths.”

Participants in the forum shared the success stories of the Win-Win ODA Model in a number of areas and discussed ways to spread and improve the model.

In particular, Vietnamese Ambassador Pham Huu Chi made a presentation on the economic and social development results that Korean ODA has brought to Vietnam, the largest recipient of Korean aid.

The joint session held by Global Infrastructure Development Forum (GIDF)* and Development alliance Korea (DAK)** in the evening featured debates on ‘Measures to Strengthen Aid Competitiveness by Structuring an ODA Cooperation System’ and ‘the Role of Civil Society in Aid Projects’.

* Global Infrastructure Development Forum (GIDF): forum launched in 2012 with the participation of MoSF, Korea Eximbank (EDCF), and private companies to discuss measures to effectively identify and support infrastructure projects in developing countries through PPP.

** Development Alliance Korea (DAK): consultative group formed by MoFA and KOICA in 2011 to improve partnership among diverse ODA stakeholders including government, civic groups, business, and academia.

In the 2nd regular meeting of GIDF and 4th regular meeting of DAK that followed, discussions took place on strategies to promote the participation of Korean companies in overseas development projects, a case study of an infrastructure development project in Myanmar, and measures to implement innovative public-private partnerships.

Korea Eximbank Chairman Kim Yong-hwan expressed hope that the forum would “help realize a win-win scenario where Korean companies will be able to target the 1-trillion-dollar infrastructure market in the developing world, while developing countries will benefit by building the foundation for growth through infrastructure development.”

Similarly, KOICA President Kim Young-mok stated, “KOICA will spare no effort to fulfill the needs of the recipient countries, while at the same time supporting domestic companies and youth in their journey abroad.”

The inputs from various stakeholders gathered at the forum will inform government measures and policies to realize the Win-Win ODA Model starting from next year.