Background

The Republic of Korea (ROK) is often cited as a successful example of how Official Development Assistance (ODA) can be utilized to drive economic and social growth. After the Korean War, aid from the international community helped to jumpstart the country’s development. As the country’s successful development experience expanded, ROK transitioned from a recipient country to a donor country and established in 1987 the Economic Development Cooperation Fund (EDCF) and the Korea International Cooperation Agency (KOICA) in 1991. Subsequently, in 2010 ROK became a member of the Development Assistance Committee (DAC) of the Organization for Economic Cooperation Development (OECD) and officially established itself as a donor country.

The Republic of Korea has been strengthening and increasing its ODA commitments every year. When the Republic of Korea joined in 2020 as an extra regional member of CABEI, new development funds for loans and grants became available for countries within the region. Korea’s ODA to LAC has been provided not only through concessional loan financing given by EDCF, but also through Korean trust funds (KTF) established within multilateral development banks (MDB) that provide technical and financial instruments for cooperation, to complement traditional lending and bilateral aid.

Objective

Increase the awareness and understanding of the impact of the Republic of Korea's (ROK) Official Development Assistance (ODA) funds and concessional loan facilities available to Latin America and the Caribbean (LAC), Central American (CA) countries, through the creation of an expository documentary for South Korean viewers.

Expected Results

As a result of the implementation of this project, it is expected to inform and expand ROK citizens’ understanding and knowledge about the scope and impact of the Republic of Korea’s Official Development Assistance (ODA) efforts in the region. Through the demonstration of the history, objectives, and results of these initiatives, the documentary shall provide a deeper understanding of development initiatives and their impact on the ground, thereby fostering a greater appreciation and support for these initiatives.

Additionally, it is expected an increased cognizant of stakeholders in Central America regarding South Korean skills, technologies, and ODA mechanisms through the visual representation of ongoing projects, which shall facilitate future consideration of utilizing South Korean expertise in the execution of development projects in the region.