A total of 18 government officials from 10 African countries joined the 30th Economic Development Cooperation Fund Annual Workshop held by the Export-Import Bank of Korea, which kicked off on Tuesday in Seoul. (Export-Import Bank of Korea)
A total of 18 government officials from 10 African countries joined the 30th Economic Development Cooperation Fund Annual Workshop held by the Export-Import Bank of Korea, which kicked off on Tuesday in Seoul. (Export-Import Bank of Korea)

The 30th Economic Development Cooperation Fund Workshop, hosted by the Export-Import Bank of Korea and the Ministry of Economy and Finance, commenced Tuesday, welcoming a total of 18 government officials from 10 African countries, according to the policy lender on Sunday.

The EDCF is an aid loan funded by the Korean government, which offers long-term loans at a low interest rate to developing countries under an official development assistance initiative. Eximbank is in charge of running the fund.

Through its annual workshop, the state-run lender invites public officials from the recipient countries, strengthening partnerships for the smooth operation of the financing aid.

This year’s workshop is a follow-up event to the first Korea-Africa summit held in Seoul last June, under the theme "The Future We Make Together: Shared Growth, Sustainability, and Solidarity."

The 10 participating countries include Angola, Cote d'Ivoire, Egypt, Ethiopia, Ghana, Kenya, Mozambique, Rwanda, Tanzania and Uganda.

“The workshop provides an opportunity to gain a deeper understanding of EDCF’s support strategy and cooperation plans for (countries in) Africa,” Dereje Wodajeneh, head of the bilateral cooperation department at Ethiopia’s Ministry of Finance, said.

“It will serve as a stepping stone for strengthening exchanges and cooperation between EDCF and the African continent.”

According to Eximbank, African countries account for roughly 25 percent of the total support volume for the EDCF.

“We plan to continue enhancing strategic support and cooperation with Africa, focusing on key areas such as energy transition, digital transformation and supply chain,” an official from the Eximbank said.

Through the week-long event, which includes visits to the headquarters of Korea Railroad Corp. and the Global Knowledge Exchange and Development Center, the participating public officials are to broaden their understanding of Korea’s official development assistance policy and the EDCF. The workshop is set to end on Wednesday.


silverstar@heraldcorp.com