KIAT Holds Briefing on "Smooth Progress of Joint ODA with World Bank"

Multilateral Development Banks and Project Planning·Online Briefing... "Creating Model Cases"

The joint online briefing session for the '2020 Energy Industry Cooperation Development Support Project' hosted by the Korea Institute for Advancement of Technology (KIAT) and the World Bank (WB). (Photo by Korea Institute for Advancement of Technology)

[Asia Economy Reporter Moon Chaeseok] The global convergence Official Development Assistance (ODA) project, jointly implemented by the Korea Institute for Advancement of Technology (KIAT) and the World Bank (WB), is progressing smoothly.

KIAT announced on the 18th that it held a joint online briefing session with the World Bank for companies interested in participating in the '2020 Energy Industry Cooperation Development Support Project Designated Task Detailed Planning' announced on the 1st.

The online briefing was attended by officials from the World Bank's Washington headquarters as well as regional offices in Bangladesh and Nepal, who explained the background and expected effects of the project, as well as the conditions for local project implementation.

This is the first time among domestic ODA institutions that a task has been jointly planned with the World Bank and a briefing session has been held.

Since local conditions must be surveyed in advance to plan the project, it was a challenging situation due to the spread of the novel coronavirus infection (COVID-19).

KIAT aimed to enhance domestic companies' understanding, and the World Bank also wanted to identify Korean companies' difficulties and willingness to participate, which led to the briefing session.

Subodh Adhikari, the World Bank's Nepal representative and energy expert, said, "We hope that through this project, Korea's excellent distribution system, operational methods, and grid modernization experience will be transferred to Nepal."

Seok Youngchul, President of KIAT, said, "We will become an institution leading innovative convergence ODA, using this exemplary case of cooperation with multilateral development banks as a stepping stone."

KIAT is the dedicated agency for industrial and energy ODA. Since its establishment in 2018, it has served as the secretariat agency for the International Development Cooperation Project Council, collaborating with domestic ODA institutions such as the Korea International Cooperation Agency (KOICA).

Furthermore, it continues to collaborate with multilateral development banks such as the World Bank and the Inter-American Development Bank (IDB). This is to help domestic companies build achievements through ODA participation and ultimately secure large-scale projects from multilateral development banks.

The 'Honduras Guanaja Island Green Energy Island Construction Project,' to be launched next year, is a project created in collaboration with the Inter-American Development Bank, the Economic Development Cooperation Fund's Knowledge Sharing Program (KSP), and the Ministry of Science and ICT.

This content was produced with the assistance of AI translation services.