South Korea provides $21mn aid to Bangladesh

The government of South Korea through Korea International Cooperation Agency (KOICA) will contribute US $21 million to support the government of Bangladesh in entrepreneurship development, Intelligent Transport Systems and Safer Cyberspace for Digital Bangladesh.

To mark the 30th anniversary of the establishment of KOICA, the organisation for providing grant aid and technical assistance programmes for international development, joins hands with Economic Relations Division of Ministry of Finance to sign three grant agreements, KOICA said.

The occasion was graced by Young-Ah Doh, Country Director, KOICA Bangladesh, Taehyun Kim, Deputy Country Director, KOICA Bangladesh, Md. Shahriar Kader Siddiky, Joint Secretary (Wing Chief, Asia, JEC and F&F), ERD, and Mirana Mahrukh, Joint Secretary (Asia), ERD.

The first document was signed between KOICA and Economic Relations Division (ERD) for project titled ‘Capacity Building of Universities in Bangladesh to Promote Youth Entrepreneurship’.

The project will be implemented by Dhaka University with a budget of $7.5 million over five years aiming to support in improving the quality of entrepreneurship education in Bangladesh.

The second document was signed among KOICA, Roads & Highways Department (RHD), Roads Transport and Highways Division, and ERD for project titled ‘Improving the Reliability and Safety on National Highway Corridors of Bangladesh by Introduction of Intelligent Transport Systems (ITS)’ with a budget of $8.9 million over four years with the objective to make road transport infrastructure of Bangladesh more safe, reliable, and sustainable; use ICT for better, efficient and effective traffic management; and enhance the institutional capacity of RHD for road and traffic management.

The third document was signed among KOICA, Bangladesh Police, CID, Public Security Division, Ministry of Home Affairs (MoHA) and ERD for project titled ‘Enhancing Cyber Crime Investigation Capability of Bangladesh’ with a budget $4.8 million over four years with the objective to strengthen the digital investigation capabilities of criminal investigation department of Bangladesh Police to combat emerging cybercrime and enhance evidence-based policing.

KOICA is currently implementing over 20 development projects in the following priority sectors under its Country Plan (CP) with 20 million USD grants per annum: ICT (innovation), Education (TVET), and Public Health.

Speaking at the project signing ceremony, Country Director of KOICA Bangladesh Young-Ah Doh said KOICA is celebrating 30th anniversary this year and is proud to continue its long-standing relationship with Bangladesh.

"I’m highly glad that it has partnered with Bangladesh to advance the socio-economic development of the country. I believe that through dedication and hard work, the people of Bangladesh will be able to touch the apex of development in every sector."