South Korea to Share Succesful Experiences to Int'l Conference on Financing for Dev't

South Korea will share its experiences in collecting and properly utilizing resources to the Third International Conference on Financing for Development to be held on July 13, 2015.

A 30-person Korean delegation will take part in the conference, according to Korean Ambassador to Ethiopia, Kim Moon-hwan.

The East Asian country is participating at the finance and development conference for the first time since it got registered as a donor country in 2010 by the Organization for Economic Cooperation and Development (OECD) Development Assistance Committee (DAC).

South Korea, a country which was suffering from deep rooted poverty 50 years ago, has transformed itself to a donor nation that increased its per capita income from 80 USD in 1960s to 2,000 USD six years ago.

The country will present the roadmap it used to bring about development to the conference, it was indicated.

Heads of state and government, representatives of the private sector, financial institutions, civil society and others will take part in the four-day conference in Addis Ababa to ensure the success of the 17-point sustainable development goal to be officially declared in New York in September.

On the sideline of the conference, other meetings will be held.

In this regard, South Korea will present its achievements in the investment of human resources development in collaboration with Ethiopia, Norway and UNESCO, it was learned.

The delegation of South Korea will comprise of the country’s envoy to the United Nations, representatives of Korea Exim Bank and Korea International Cooperation Agency.

South Korea has a goal of donating 0.25 percent of its Gross National Income (GNI) to developing countries this year.

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