The Korea Herald

피터빈트

Korea contributes $41.7m to World Bank in 2016

By KH디지털2

Published : Feb. 13, 2017 - 17:35

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South Korea provided a combined $41.7 million to three trust funds created by the World Bank last year, with 73 projects to support developing countries, the finance ministry here said Monday.

Some $28 million was invested into the Korea-World Bank fund in 2016, while $11 million and $2.7 million went to the Korea Green Growth Trust Fund and the Poverty Reduction Fund, respectively, according to the Ministry of Strategy and Finance.

(Yonhap) (Yonhap)

The total amount dropped slightly from $61.5 million tallied in 2015.

With the latest contributions, South Korea has offered an aggregate $270.5 million to the World Bank's trust funds since 2011.

South Korea participated in 73 World Bank-arranged projects last year worth $43.64 million, with 22 percent used to support the least-developed countries.

Meanwhile, South Korea and the World Bank will have an annual meeting in Washington on Monday to review the Korea-invested trust funds and projects, added the finance ministry. (Yonhap)