South Korea to provide $3bn to Bangladesh as dev assistance

[Black_cats]

Published on 03:52 PM, August 31, 2022

South Korea to provide $3bn to Bangladesh as dev assistance​

Star Digital Report

South Korea will provide US$3 billion to Bangladesh as overseas development assistance under a five-year agreement to support in developing infrastructure, ICT, transportation etc.

South Korean Ambassador to Bangladesh Lee Jang-keun said this at the DCAB Talk at the National Press Club today.

"We hope we can implement some meaningful programme during the next five years because this time the amount is quite big," he said.

The South Korean government is working with Bangladesh government on finalizing the projects and expecting to sign the agreement by the year end.

In the previous five-year period, the amount of the overseas development assistance was $700 million.

The envoy said South Korea provided soft loan at very low interest rate that is less than 1 percent and has grace period of 15 years.

Lee Jang-keun said Bangladesh-Korea Trade is growing significantly in the recent years. Last fiscal year, it was $2.3 billion, which was $1.8 billion in the previous year.

South Korea is also none of the major foreign direct investors in Bangladesh. Annual FDI last year was $1.4 billion and annually $100 million worth FDI is coming to Bangladesh from Korea.
There are some 150 South Korean companies operating in Bangladesh.

The Korean ambassador said this year some 4,000 Bangladeshi workers are expected to go to South Korea for work. Since January, already 3,000 workers have migrated to Korea.

In 2019-20 fiscal year, the 10,000 Bangladeshis sent $209 million to Bangladesh.

There are already three Korean Technical Training Centres in Bangladesh and two more are underway, he said.

Lee Jung-keun said Korea supports Bangladesh both in the areas of humanitarian assistance for the Rohingyas and at the international level for sustainable repatriation of them.

Yearly, Korea provides $4-5 million to support Rohingyas and host community.

DCAB President Rezaul Karim Lotus and General Secretary AKM Moinuddin also spoke.

South Korea to provide $3bn to Bangladesh as dev assistance

South Korea will provide US$3 billion to Bangladesh as overseas development assistance under a five-year agreement to support in developing infrastructure, ICT, transportation etc.

www.thedailystar.net

 

[Wergeland]

Gotta love South Koreans, they developed their country from scratch and are among the most innovative economies.

Also, as far as i know, they never poke their nose in the internal matters of other nations.

 

[Tom-tom]

Gotta love South Koreans, they developed their country from scratch and are among the most innovative economies.

Also, as far as i know, they never poke their nose in the internal matters of other nations.

They are a clever bunch, but let's be fair they has a lot of help from uncle sam. As uncle same wanted to prove that a developing country embracing capitalism can become a rich country.


Where in truth it's the western worlds interest to keep developing poor countries- poor. Petrol and federal reserve causes problem for these poor countries and are literally funding west.

 

[BananaRepublicUK]

They are a clever bunch, but let's be fair they has a lot of help from uncle sam. As uncle same wanted to prove that a developing country embracing capitalism can become a rich country.


Where in truth it's the western worlds interest to keep developing poor countries- poor. Petrol and federal reserve causes problem for these poor countries and are literally funding west.

US doesn’t want an United Korea or Korea to fall under Chinese influence.

Korea was also a hedge against Japan.

Korea has also embraced Christianity in a big way.

 

[mb444]

Koreans were properly colonised.... their culture, religion etc systematically destroyed by the USA and then remade. Its just a very large US military base.

That is no issue for us. On economic front BD can learn a lot from them and that is what we should focus on.

 

[Wergeland]

Koreans were properly colonised.... their culture, religion etc systematically destroyed by the USA and then remade. Its just a very large US military base.

That is no issue for us. On economic front BD can learn a lot from them and that is what we should focus on.

Koreans have made the most out of their exeptionally difficult geostrategic position. Squeezed by a communist North armed to the teeth, a economic powerhouse and sometimes a maniac, like Japan, China a historical overlord and America who is interested in its potential as a bulwark against both China and Communists like Soviet.

Of course being protected and supported by a economic juggernaut like America, has helped them a lot along the road.

Although not the same, still in some ways BD also face similar technical geostrategic challenges.