Eximbank to nurture regional development specialists
Eximbank to nurture young regional specialists The Korea Herald
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The Export-Import Bank of Korea Sends Young Regional Specialists to Developing Countries
The state-run Export-Import Bank of Korea announced its plan to dispatch 34 young regional specialists to 13 developing countries as part of its Economic Development Cooperation Fund (EDCF). The program aims to cultivate a new generation of experts in global development cooperation.
Commitment to Sustainable Development Goals (SDGs)
South Korea, as a member of the OECD Development Assistance Committee, has long been committed to supporting infrastructure development in emerging economies and creating innovative models for development cooperation. The EDCF, initiated in 1987 and funded by the government, plays a crucial role in fostering economic development and stability in developing nations by providing long-term, low-interest credit.
Projects and Initiatives
The EDCF is managed and operated by Eximbank and entrusted by the Ministry of Economy and Finance. It supports a wide range of projects focused on industrial development in these countries. Since 2010, the EDCF program dedicated to youth has been instrumental in recruiting and training young talents from undergraduate and graduate institutions to participate in this global initiative.
Selection Process and Objectives
The selection process for this year’s cohort was completed on April 15. The program is committed to developing professionals in official development assistance (ODA). Over the next six months, these individuals will gain hands-on experience in their respective host countries. Their roles will include engaging in high-level discussions with local governments and international organizations, participating in on-site inspections of EDCF-funded projects, and conducting research on economic conditions and ODA dynamics within the host countries.
Host Countries
The regions where the specialists will be deployed span Asia, Africa, and Latin America. The host countries include Vietnam, Indonesia, Sri Lanka, Bangladesh, India, Ghana, and Colombia.
Future Professionals in Development Assistance
Eximbank Vice President Park Jong-kyu expressed his excitement about the EDCF program for youth, stating that it offers a splendid opportunity for participants to leverage their on-site experiences at overseas offices into international careers. The bank looks forward to seeing these young individuals with a keen interest in development assistance evolve into future professionals.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries | No specific indicators mentioned in the article |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all | No specific indicators mentioned in the article |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the sustainable development goals in all countries, in particular developing countries | No specific indicators mentioned in the article |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
SDG 8: Decent Work and Economic Growth
The article discusses the Export-Import Bank of Korea’s Economic Development Cooperation Fund (EDCF), which aims to foster economic development and stability in developing nations through long-term, low-interest credit. This aligns with SDG 8’s focus on promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.
SDG 9: Industry, Innovation, and Infrastructure
The EDCF supports a broad range of projects focused on industrial development in developing countries. This relates to SDG 9’s target of developing quality, reliable, sustainable, and resilient infrastructure to support economic development and human well-being.
SDG 17: Partnerships for the Goals
South Korea’s commitment to supporting infrastructure development in emerging economies and its membership in the OECD Development Assistance Committee demonstrate its efforts to enhance global partnerships for sustainable development. This aligns with SDG 17’s target of enhancing the global partnership for sustainable development.
2. What specific targets under those SDGs can be identified based on the article’s content?
Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries
The article does not provide specific information regarding the per capita economic growth or GDP growth rates in the least developed countries. However, the EDCF’s aim to foster economic development and stability in developing nations suggests a focus on sustaining economic growth.
Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all
The EDCF’s support for projects focused on industrial development in developing countries aligns with the target of developing quality, reliable, sustainable, and resilient infrastructure to support economic development and human well-being.
Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the sustainable development goals in all countries, in particular developing countries
South Korea’s commitment to supporting infrastructure development in emerging economies and its membership in the OECD Development Assistance Committee demonstrate its efforts to enhance global partnerships for sustainable development.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
The article does not mention any specific indicators that can be used to measure progress towards the identified targets. However, indicators such as GDP growth rates, investment in infrastructure development, and the number of projects supported by the EDCF could be potential indicators to measure progress towards the targets.
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Source: koreaherald.com
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