Dhaka, Bangladesh (BBN)– A Framework Agreement for Grant Aid was signed on Tuesday between the Government of Bangladesh and the Government of the Republic of Korea to promote poverty reduction and the sustainable economic and social development of the South Asian country.

ERD secretary Mohammad Mejbahuddin and Lee Yun-young, Ambassador of the Republic of Korea signed on the Agreement on behalf of their respective governments at the Economic Relations Division (ERD) of the Ministry of Finance in the capital Dhaka.

Korean government would further consolidate its grant aid programs in Bangladesh through the Korea International Cooperation Agency (KOICA) under the Framework Agreement.

It would also help KOICA to increase the volume of its aid to Bangladesh according to the Korean Government’s pledge to increase its ODA to 0.25 percent of its GNI by the year 2015.

The Framework Agreement will facilitate the KOICA’s development cooperation programs such as invitational training for government officials and professionals in Korea; dispatching experts for consultation and in-country training programs; dispatching volunteers to support government offices in various fields; dispatching medical doctors and professional medical personnel; supporting NGOs activities; providing with equipment, machinery and materials in connection with the projects and programs; constructing facilities; coordinating with the concerned authorities to implement the projects and programs; and providing with other forms of grant aid as may be mutually agreed up on.

The KOICA is presently supporting Bangladesh in health, education, and governance sectors according to the Country Partnership Strategy for Bangladesh (2012-2015).

It is implementing eight development projects with a total cost of US $42.7 million including the US $ 13.75 million project for Establishment of National Institute of Advanced Practice Nurses in Bangladesh. So far, more than 1500 government officials received professional trainings and master degrees from different specialized Korean institutions and universities under KOICA’s training programs.

Since 1993 KOICA has dispatched more than 460 Korean Overseas Volunteers and Experts to Bangladesh to work in the government institutions for providing technical support to develop the capacity of those host organizations. KOICA also supported Bangladesh in rural and agricultural development, ICT and reducing climate change impacts.

Recalling Korean Government’s support in investment, trade, aid, capacity enhancement of Government institutions as well as officials and also the cultural exchanges programs the Senior Secretary Mr. Mohammad Mejbahuddin revealed that the friendly relation between the two countries has been ever increasing and deeply rooted through mutual respect, trust and bilateral cooperation, according to a KOICA statement.  

Ambassador of the Republic of Korea Lee Yun-young also appreciated Bangladesh’s growth and performance in socio-economic development and achieving MDGs. The ambassador hoped that Bangladesh could follow the Korean model of development as Korea, once the aid recipient developing country could achieve its remarkable development through proper utilization of its human capital, foreign assistance and others.

KOICA Resident Representative Ms. Bok Hee Kim, ERD Additional Secretary Asif uz Zaman, Joint Secretary Md. Jahangir Alam, and other high level government and KOICA officials and dignitaries were also present in that auspicious occasion.

BBN/SSR/AD-18Mar4-12:41 pm (BST)