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Manila [The Philippines], May 6 (ANI): The Asian Development Bank (ADB) and South Korea have signed a memorandum of understanding earmarking 700 million dollars in co-financing from South Korea for ADB sovereign development projects over the next three years.
“I would like to warmly thank the Republic of Korea for its strong and enduring partnership with ADB,” said ADB President Masatsugu Asakawa Asakawa.
“With the Republic of Korea’s support, we will be able to scale up ADB projects focusing on climate change and information and communication technology, which will be key to support a green, resilient, and inclusive recovery in Asia and the Pacific.”
South Korea earmarks USD 700 million for climate and ICT projects with ADB aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
South Korea earmarks $700 million for climate, ICT projects
ANI
06 May 2021, 23:03 GMT+10
Manila [The Philippines], May 6 (ANI): The Asian Development Bank (ADB) and South Korea have signed a memorandum of understanding earmarking 700 million dollars in co-financing from South Korea for ADB sovereign development projects over the next three years. I would like to warmly thank the Republic of Korea for its strong and enduring partnership with ADB, said ADB President Masatsugu Asakawa Asakawa. With the Republic of Korea s support, we will be able to scale up ADB projects focusing on climate change and information and communication technology, which will be key to support a green, resilient, and inclusive recovery in Asia and the Pacific. Half of the earmarked amount 350 million dollars will cofinance projects through the Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility (ACGF) established in 2019 by ASEAN governments under the ASEAN Infrastruct
Republic of Korea Earmarks $700 Million for Climate and ICT Projects through Cofinancing with ADB
News Release | 4 May 2021
MANILA, PHILIPPINES (4 May 2021) The Asian Development Bank (ADB) and the Republic of Korea today signed a memorandum of understanding earmarking $700 million in cofinancing from the Republic of Korea for ADB sovereign development projects over the next 3 years.
Deputy Prime Minister, Minister of Economy and Finance, and ADB Governor Hong Nam-Ki signed for the Republic of Korea, while President Masatsugu Asakawa signed for ADB.
“I would like to warmly thank the Republic of Korea for its strong and enduring partnership with ADB,” Mr. Asakawa said. “With the Republic of Korea’s support, we will be able to scale up ADB projects focusing on climate change and information and communication technology, which will be key to support a green, resilient, and inclusive recovery in Asia and the Pacific.”