The Korea Herald

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Eximbank to nurture regional development specialists

By Park Se-ra

Published : April 25, 2024 - 14:42

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The headquarters of Export-Import Bank of Korea in Yeouido, Seoul (Export-Import Bank of Korea) The headquarters of Export-Import Bank of Korea in Yeouido, Seoul (Export-Import Bank of Korea)

The state-run Export-Import Bank of Korea said Thursday that it planned to dispatch 34 young regional specialists to 13 developing countries under its Economic Development Cooperation Fund, aimed at cultivating a new generation of experts in global development cooperation.

As a member of the OECD Development Assistance Committee, South Korea has long been committed to supporting infrastructure development in emerging economies and crafting innovative models for development cooperation.

Initiated in 1987, the government-funded EDCF aims to foster economic development and stability in developing nations by providing long-term, low-interest credit.

Managed and operated by Eximbank and entrusted by the Ministry of Economy and Finance, EDCF supports a broad range of projects focused on industrial development in these countries.

Since 2010, the EDCF program dedicated to youth has been pivotal in recruiting and training young talents from undergraduate and graduate institutions to partake in this global initiative.

This year’s cohort was selected through a rigorous process completed on April 15, with the program’s commitment to developing professionals in official development assistance, or 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.

The regions span Asia, Africa, and Latin America, and include nations such as Vietnam, Indonesia, Sri Lanka, Bangladesh, India, Ghana and Colombia.

“The EDCF program for youth offers a splendid opportunity to leverage their on-site experiences at our overseas offices into international careers,” said Eximbank Vice President Park Jong-kyu. “We look forward to seeing these young individuals with a keen interest in development assistance evolving into future professionals.”