With the approval of the Minister, the Department of Debt Management and External Finance has sent delegate to participate in the 26th Economic Development Cooperation Fund Annual Workshop organized by the Export-Import Bank of Korea from October 25th to 28th, 2022 in Seoul, Korea.

Korea is one of the four biggest donors of Viet Nam. The loans from the Korea Government are provided through EDCF and executed by the Export-Import Bank of Korea.

The Economic Development Cooperation Fund Workshop is hosted annually by Export-Import Bank of Korea with the participations of development officers from developing countries using funds from EDCF. The participants of this year’s workshop include 14 government officials from 14 different developing countries in Asia, Africa and Latin America including Egypt, Laos, Cambodia, El Salvadore, etc.

“The EDCF loans are different from concessional loans given by other developed countries, as it contains Korea’s experience in economic development over the past half-century,” explained Park Jung-hyun, head of EDCF affairs of the Finance Ministry, during the workshop's opening ceremony.

“Through constant interaction with related authorities from developing countries, we will make them act as the bridge for economic cooperation with Korea,” said vice president of Eximbank Lee Sang-ho.

The aims of this year’s workshop included (i) enhance understanding of Korea’s development experience and ODA system; (ii) introduce EDCF strategy and familiarize with EDCF project life cycle; (iii) discuss ways to improve project management efficiency and (iv) establish network within workshop participants. The workshop also provided information on the funds that Keximbank can provide such as technical assistance, knowledge-sharing programs, EDPF, export finance credit, etc.

The workshop also includes site-visits to the Seoul Energy Dream Center, and Seoul Metropolitan City’s Traffic Information Center, which are the oustanding hi-tech sites of Korea.