Foreign Policy of South Korea Eyes Africa


Foreign Policy of South Korea Eyes Africa

The Republic of Korea prepares to host the first Korea-Africa Summit in 2024. Jang Sungamin, senior secretary for future strategy, has made an upturn in Addis Abeba amidst the 36th African Union summit giving emphasis on the foreign policy eyeing Africa. Using the "teach a man to fish you will feed him for a lifetime" analogy Jang stated that South Korea has mastered the technique and wants to share it with Africa. Korea has been providing the highest a month of Offical Development Assistance (ODA) to Ethiopia than any other African country, including 168 million dollars for 26 projects in water management, health, rural development, transportation, and education since 1991. Ethiopia receives a large number of loans from South Korea. In 2019, Korean Exim Bank provided 264 million dollars as a loan of which 170 million dollars for national electricity projects.


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