OECD urges Korea to increase grants to poor nations
Published : 2013-01-29 20:16
Updated : 2013-01-29 20:16
Members of the Organization for Economic Cooperation and Development on Tuesday recommended that South Korea increase the size of grants it offers as development aid to nations with high levels of poverty and debt.
The recommendation by the OECD’s Development Assistance Committee, which groups donor nations in the northern hemisphere, was a result of the first “peer review” of South Korea’s development aid policies since the committee endorsed Seoul as its 24th member in 2009.
Wrapping up the eight-month review, the committee urged South Korea to “pay careful attention to the impact of its loan program on the recipient country’s level of debt, particularly in the least developed countries, fragile states and those countries rated as in debt distress or at risk of debt distress.” (Yonhap News)