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S. Korea, IDB vow to boost cooperation on development projects for Latin America

November 4, 2024

South Korea and the Inter-American Development Bank (IDB) agreed Monday to expand projects meant to support the development of Latin America, Seoul’s finance ministry said.

During their annual meeting held in South Korea’s central city of Sejong, the ministry and an IDB delegation assessed their joint projects designed to help the economic and social development of Latin American countries and discussed ways of enhancing cooperation down the road, according to the ministry.

The IDB stressed South Korea’s role in helping to eradicate poverty in the region and beef up the nations’ responses to climate change, among other goals.

The ministry vowed to expand joint programs in information and communication technologies, energy and other sectors in which South Korea has a competitive edge, and voiced hope for active participation by domestic companies in IDB-led projects, the ministry said.

This file photo, provided by South Korea's finance ministry, shows Minister Choi Sang-mok (L) shaking hands with Inter-American Development Bank President Ilan Goldfajn ahead of their meeting in Washington, D.C., on April 17, 2024. (PHOTO NOT FOR SALE) (Yonhap)
This file photo, provided by South Korea’s finance ministry, shows Minister Choi Sang-mok (L) shaking hands with Inter-American Development Bank President Ilan Goldfajn ahead of their meeting in Washington, D.C., on April 17, 2024. (PHOTO NOT FOR SALE) (Yonhap)