South Korean ODA in Bangladesh
Top 10 Recipients
297.2 427.8 725.0 38.9%
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Table 1: Top 10 recipients of South Korea’s bilateral ODA in 2019. Source: EDCF Annual Report 2020210 (Grant Equivalent).
Graph: Top 10 recipients of South Korea’s bilateral ODA in 2019. Source: EDCF Annual Report 2020. 211(Grant Equivalent). Economic Development and Cooperation Fund (EDCF) in Bangladesh Korea’s Ministry of Economy and Finance (MOEF) is in charge of determining concessional loan policy. Under the supervision of MOEF, Export-Import (EXIM) Bank of Korea manages EDCF which primarily focuses on providing bilateral loans at a concessionary rate. EXIM Bank also conducts project appraisal, executes the loan agreement and evaluates the project completion status. Government of Korea provides following types of concessionary loans212:
1. Development Project Loan 2. Equipment Loan
3. Two-Steps Loan
4. Project Preparation Loan.
210 “Annual Report,” Economic Development Cooperation Fund, updated December 20, 2021,
https://www.edcfkorea.go.kr/site/program/board/basicboard/list?boardtypeid=306&phototype=list&menuid=005003 003 211 “Annual Report,” Economic Development Cooperation Fund, updated December 20, 2021,
https://www.edcfkorea.go.kr/site/program/board/basicboard/list?boardtypeid=306&phototype=list&menuid=005003 003 212 “Wing-8:Asia & JEC,” Economic Relations Division (ERD), Government of the People’s Republic of
Bangladesh, updated December 20, 2021, https://erd.gov.bd/site/page/e0ed373a-4243-4dd4-aa10-f402dea4a3cf
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EDCF Loan to Bangladesh: Low Interest Rate with Higher Repayment Period
In the Framework agreement between the Government of Republic of Korea and Government of the People’s Republic of Bangladesh signed for the 2015-2017 term for EDCF loans, the interest rate was only 0.01% per annum.213 Repayment period of the loan is 40 years with a grace period of 15 years.214 In case of failure to repay partial or full amount there is an overdue charge of 2%
per annum. The ECDF interest rate is one of the lowest among the international loan providers in Bangladesh. At the same time the repayment period is one of the highest that plays positive role in the debt sustainability as well as viability and profitability of the projects taken under this loan.
Bangladesh as an EDCF Recipient: Data and Statistics
As of 2021, in cumulative basis, Bangladesh is the 2nd highest EDCF loan recipient after Vietnam (Annex-1). Bangladesh received a total of $1191.66 million which constitutes 6.5% of the total EDCF loans. In terms of number of projects Bangladesh ranks at number four with 25 projects after Vietnam (66), Sri Lanka (31) and Cambodia (27) respectively.
Table: EDCF Loan by country as of 2020. Source: Prepared using Annex-1 data.
213 Economic Relations Division (ERD), Government of the People’s Republic of Bangladesh, updated December 20, 2021,
https://erd.portal.gov.bd/sites/default/files/files/erd.portal.gov.bd/notices/084b1e24_af36_490b_9e7f_6ae5e8288022 /framwork%20agreement%20with%20Korea.pdf
214 Ibid.
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Graph: Country-wise number of projects financed by EDCF as of 2020. Source: Prepared using Annex-1 data.
EDCF Projects in Bangladesh
Bangladesh received its first EDCF funding worth $14 million in 1993 in a power distribution project in Khulna. In 2000 and 2010, two more projects in the power sector received funding worth $92.52 and $92.50 million. In the following years number of projects and total amount both have significantly grown. Bangladesh railway got its first loan to purchase locomotives in 1996, Later, locomotive purchase project was extended in two more phases in 2002 (Phase II) and 2007 (Phase III). Total funding in this project was $89.1 million. Another important sector that has received funding was related to ICT infrastructure and digitalization. In 2001, $30 million was allocated for installing digital telephone exchange, $25 million for internet information network expansion in 2005, $30.63 million loans for the development National ICT Infra-Network in 2008, installation of wireless broadband network for Digital Bangladesh in 2012 with $77 million. Other notable projects include Salvage Vessel procurement, modernization of coastal stations, establishment of Upazila ICT training and resource centers, digital land management, water supply projects etc. Annex-2 lists all the EDCF projects in Bangladesh since the beginning of EDCF funding.
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Graph: Yearly EDCF funding to Bangladesh. Source: Prepared from EDCF Database.215 Korean EDCF in Bangladesh’s Health Sector
South Korea is funding to establish a super specialized hospital under the auspices of Bangladesh’s top medical hospital Bangabandhu Sheikh Mujib Medical University (BSMMU).
EDCF funding for the project is $130 million. Construction work began in 2018 and expected start of operation is in 2022. This hospital will accommodate 700 beds and five specialized centers.
EDCF 2021 Update
Bangladesh and South Korea have signed a framework agreement on October 24, 2021. Under the agreement, Bangladesh will receive 700 million dollar loan from EDCF for 2021-2025 period.216
KOICA in Bangladesh
KOICA was established in 1991 as a grant aid agency of South Korea. KOICA started its Bangladesh operation 1993 with the aim to develop socio-economic development of Bangladesh.
As of 2021, KOICA grant aid to Bangladesh stands at $164 million. The organization is currently implementing over 20 development projects217 with approximately 20 million $ budget
215 “By Country,” Economic Development Cooperation Fund, Korea Exim Bank, updated December 20, 2021, https://www.edcfkorea.go.kr/site/homepage/menu/viewMenu?menuid=005002001004
216 “Korea to provide $700m EDCF loan to Bangladesh,” Dhaka Tribune, June 15, 2021,
https://archive.dhakatribune.com/business/economy/2021/06/15/korea-to-provide-700m-edcf-loan-to-bangladesh 217 Young-Ah Doh, “30 years of KOICA in Bangladesh,” The Financial Express, April 10, 2021,
https://thefinancialexpress.com.bd/views/30-years-of-koica-in-bangladesh-1618065342
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per annum. KOICA’s projects are in line with its country plan (CP) which prioritizes three main programs:
1. Enhance Efficiency of Public Service by establishing Digital Public System 2. Enhance Public health by providing Quality of Health and Medical Service 3. Develop skillful human resources for sustainable development.
KOICA has plans to support Bangladesh in achieving Sustainable Development Goals (SDGs) and Bangladesh’s LDC graduation by 2026.
Year wise KOICA Grant to Bangladesh
Bangladesh received first KOICA grant aid in 1991 in its establishment year. Total amount disbursed in that year was $1,95,000. Since then, the flow of aid has increased significantly. In 2019, total aid has increased to $1,52,75,000 which is almost 78 times higher than the initial year’s aid. This represents 7800% increase in little less than 30 years.
Graph: Yearly KOICA funding in Bangladesh. Source: Prepared from KOICA Stats.218 KOICA Grant by Country as of 2019
Bangladesh ranks 13th position among KOICA grant aid receiving countries. Vietnam secures 1st position with US $424,888,473 aid which constitutes 6.7% of total aid followed by Iraq (5.4%), Afghanistan (4.4%), Philippines (4.4%) and Cambodia (4.2%). Bangladesh received a total of US $151,567,738 that is 2.4% of total share.
218 “Country,” Korea International Cooperation Agency (KOICA), updated December 20, 2021, https://stat.koica.go.kr/ipm/os/acms/areaEacoEacoList.do?lang=en
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Graph: KOICA Grant by Country. Source: Prepared from Annex-4 data Sector Wise KOICA Grant Percentage in Bangladesh (Up to 2019)
In line with KOICA’s country plan, education sector received highest percentage of funding with 30.78% and valued at $46,652,722.0. Health and Public Administration followed with 29.82%
and 17.13% share respectively.
Sector Total $ Percentage
Health 45,192,727.0 29.82%
Education 46,652,722.0 30.78%
Public Administration 25,969,815.0 17.13%
Technology, Environment and Energy 15,232,411.0 10.05%
Agriculture, Forestry and Fisheries 10,588,219.0 6.99%
Emergency Relief 6,616,928.0 4.37%
Others 1,314,917.0 0.87%
Total 151,567,738.0 100%
Table-2: Sector-wise KOICA grant in Bangladesh. Source: KOICA Stats.219
219 “Country and Sector (Detail),” Korea International Cooperation Agency (KOICA), updated December 20, 2021, https://stat.koica.go.kr/ipm/os/acms/realmRealmEacoDetailList.do?lang=en
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Graph: Sector-wise KOICA grant in Bangladesh. Source: KOICA Stats.220 Sector and Year Wise KOICA Aid (1991-2019) (Part-1)
In 1991, Public Administration sector received highest funding with $185783 which increased to 1,810,128.0 in 2019. Overall, the increase is almost 974%. In cased of Health the increase in 2019 is 1148 times higher than that of initial year’s funding in 1991. Education sector did not receive any funding before 1993. From 1993 to 2019 aid increased from $12,606.0 to
$4,215,167.0 which is almost 334 times higher.
220 “Country and Sector (Detail),” Korea International Cooperation Agency (KOICA), updated December 20, 2021, https://stat.koica.go.kr/ipm/os/acms/realmRealmEacoDetailList.do?lang=en
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Graph: Sector-wise and yearly KOICA Grant (Part – I). Source: Prepared using Annex-5 Data.
Graph: Sector-wise and yearly KOICA Grant (Part – II). Source: Prepared using Annex-5 Data.
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C
omparative Analysis: Korean vs. Other Donor CountriesYear Official
donors Canada USA Japan Australia Korea UK Germany
2011 1305.09 50.85 124.73 59.07 59.41 84.05 338 71.09
2012 1972.5 29.31 210.86 232.8 90.51 49.32 283.63 80.26
2013 2444.07 68.7 172 306 72.88 45.39 386.43 103.94
2014 2260.13 63.47 254.19 306.69 72.48 65.87 290.81 62.23 2015 2690.43 50.72 227.07 418.49 49.97 52.56 227.1 89.19 2016 2617.68 48.75 259.3 461.42 34.84 27.82 201.73 65.12 2017 3882.85 39.6 285.84 1356.99 44.7 32.67 234.26 81.68 2018 3029.67 88.87 329.92 1201.35 52.51 64.57 247.44 115.15 2019 4381.56 81.53 404.87 1139.18 58.97 98.63 327.08 131.48
Total 521.8 2268.78 5481.99 536.27 520.88 2536.4
8 800.14 Table 3: Yearly total ODA. Source: Prepared from OECD Stats.221
This comparison involves time period from 2011 to 2019 and based on the ODA provided by the top donor countries. In this period Bangladesh received a total of $24583.98 million from official donor countries. Japan tops as an ODA provider to Bangladesh with 5481.99 million with is 22.30% of total ODA received by Bangladesh followed by UK (10.32%), USA (9.23%), Germany (3.25%), Australia (2.18%), South Korea (2.12%) and Canada (2.12%). This puts South Korea as the 6th highest ODA provider to Bangladesh.
From a year-by-year analysis South Korea’s share of ODA has seen significant fluctuations. In 2011 the share was highest with 6.44% and the lowest was 0.84% in 2017. However, in most of the years the percentage was over 2% of total ODA received.
YEAR Canada USA Japan Australia Korea UK Germany
2011 3.90% 9.56% 4.53% 4.55% 6.44% 25.90% 5.45%
2012 1.49% 10.69% 11.80% 4.59% 2.50% 14.38% 4.07%
2013 2.81% 7.04% 12.52% 2.98% 1.86% 15.81% 4.25%
2014 2.81% 11.25% 13.57% 3.21% 2.91% 12.87% 2.75%
2015 1.89% 8.44% 15.55% 1.86% 1.95% 8.44% 3.32%
2016 1.86% 9.91% 17.63% 1.33% 1.06% 7.71% 2.49%
2017 1.02% 7.36% 34.95% 1.15% 0.84% 6.03% 2.10%
221 “Aid (ODA) disbursements to countries and regions [DAC2a],” OECD. Stat, Organization for Economic Cooperation and Development, updated December 18, 2021,
https://stats.oecd.org/Index.aspx?DataSetCode=REF_TOTALOFFICIAL#
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2018 2.93% 10.89% 39.65% 1.73% 2.13% 8.17% 3.80%
2019 1.86% 9.24% 26.00% 1.35% 2.25% 7.46% 3.00%
Total 2.12% 9.23% 22.30% 2.18% 2.12% 10.32% 3.25%
Table 4: Year and Percentage wise ODA. Source: Prepared from Table-3.
Graph: ODA to Bangladesh by percentage (2011-2019). Source: Prepared from Table-3 Other Significant Support Areas
Covid-19 Support
Like many countries in the world Covid-19 created unprecedented challenges for Bangladeshi health system. South Korea supported Bangladesh in this difficult time with a project titled
“Strengthening Quarantine Capacity against Covid-19 and other infectious diseases”. In addition, a total of $150 million EDCF loan has been provided- 50 million in 2020 and 100 million in 2021.222
During the initial days of Covid-19 outbreak necessary medical equipment like PPE, Oxygen generator to establish central oxygen system, test kits and other hygiene packages were in short
222 “Bangladesh receives ambulances, oxygen generator from S Korea,” The Business Standard, November 30, 2021, https://www.tbsnews.net/bangladesh/bangladesh-receives-ambulances-oxygen-generator-s-korea-336871
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supply. From time to time these equipment were donated by Korean development agency KOICA. In July 2020, KOICA provided 1800 food and hygiene packages and 3000 PPEs for the Mughda community and frontline nurses223. In 2021, 08 ambulances and 100 Oxygen generators were provided to Bangladesh’s Directorate General of Health Services (DGHS) by KOICA. The ambulances are highly equipped with state of the art first aid medical box, medical oxygen facilities, personal protective equipment and other emergency related accessories224.
Mr. Lee Jang-keun, Ambassador of the Republic of Korea to Bangladesh stated that these contributions symbolize the friendship between the two countries and Korea would stand by Bangladesh in future also. Indeed, Korean support has increased Bangladesh’s capacity to fight against the Covid-19 pandemic. The equipment have directly contributed to save lives as expressed by Prof Abdul Bashar Khurshid Alam, director general of the Directorate General of Health Services (DGHS)225.
Support for Rohingya Refugees
In 2017, Myanmar defense forces started a crackdown against the country’s Rohingya population in Rakhine province. It was systematic act of atrocities that had been conducted by the state apparatus as well as extremist segment of local population. The UN High Commissioner for Human Rights has termed Rohingya situation as “a textbook example of ethnic cleansing”.226 UN Special Envoy has gone one step further in describing the situation as having hallmarks of genocide. As a result, more than 6,70,000 Rohingya people fled to neighboring Bangladesh.
Bangladesh took open door policy although the country is one of the densely populated in the world and strained on resources to manage such a huge influx of refugees. In addition, local host community is also negatively impacted by the influx.
Under these circumstances, South Korea extended their humanitarian assistance to support the needs of Rohingya people as well as the host community. From 2017 to 2021 South Korea provided around 20 million $ to assist international agencies working for Rohingya refugees and host communities227. In 2021, Korean Government provided 4 million $ to UNHCR, UNICEF, WFP, IOM and IFRC that are working to support affected communities under Joint Response
223 “KOICA gives food, medical supplies to Mugda community, nurses,” The Business Standard, July 28, 2020, https://www.tbsnews.net/coronavirus-chronicle/covid-19-bangladesh/koica-gives-food-medical-supplies-mugda-community-nurses
224 “South Korea provides 8 ambulances, 100 oxygen generators to Bangladesh,” The Daily Star, November 30, 2021, https://www.thedailystar.net/news/bangladesh/diplomacy/news/south-korea-provides-8-ambulances-100-oxygen-generators-bangladesh-2906461
225 “South Korea provides 8 ambulances, 100 oxygen generators to Bangladesh,” The Daily Star, November 30, 2021, https://www.thedailystar.net/news/bangladesh/diplomacy/news/south-korea-provides-8-ambulances-100-oxygen-generators-bangladesh-2906461
226 “UN human rights chief points to ‘textbook example of ethnic cleansing’ in Myanmar”, United Nations, September 11, 2017, https://news.un.org/en/story/2017/09/564622-un-human-rights-chief-points-textbook-example-ethnic-cleansing-myanmar
227 “Rohingya Crisis: Korea Provides $4mn to Support 2021 JRP,” UNB, May 19, 2021,
https://unb.com.bd/category/Bangladesh/rohingya-crisis-korea-provides-4-mn-to-support-2021-jrp/69896
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Plan (JRP)228. In 2021, Korea provided emergency support of 1 million $ to in response to a breakout of fires in refugee camp to rebuild shelters and living facilities, including LPG distribution, latrines, and bathing systems. Priority areas of South Korean support revolved around addressing gender-based violence, supporting children and girls, and responding to emergencies and disaster relief229. The United Nations World Food Programme (WFP) estimates that nearly 96% of the Rohingya refugees are entirely reliant of external assistance. Korean support played important part in fulfilling the resource gap in providing assistance.
A virtual conference on Sustaining Support for Rohingya Refugees co-hosted by the United States of America, the United Kingdom of Great Britain and Northern Ireland, the European Union and the United Nations Refugee Agency (UNHCR) was held on October 22, 2020. South Korean Vice Minister of Foreign Affairs Lee Taeho told the South Korean Government would play active role for both immediate support for the refugees as well as long term measures to promote social cohesion in Myanmar’s Rakhine province230. South Korea also commits to work with the international community and Bangladesh Government to find a durable solution as well as safe and voluntary return of Rohingya refugees to Myanmar.
CSR by Korean Companies
In addition to EDCF and KOICA, Korean companies’ operations in Bangladesh are also engaged in corporate social responsibility (CSR) activities. In June 2021, The Embassy of the Republic of Korea in Dhaka and the CSR Centre, in partnership with Korea Trade Investment Promotion Agency (KOTRA) Dhaka office jointly organized Bangladesh-Korea CSR Conference 2021 with the theme "CSR for human resource development and economic growth".
One of the largest Korean companies in Bangladesh Youngone group that has taken Blue and Green Initiative in Korean Export Processing Zone (KEPZ). Under this initiative the group has planted 2.5 million trees and created 25 lakes and water bodies. Moreover, pioneering the use of renewable energy they have installed rooftop solar panels with 40 MW electricity generation capacity that will meet the electricity need of KEPZ and local community. Youngone has employed 75% female worker to promote women empowerment. This Group is supporting Royal Bengal Tiger conservation effort in world’s largest mangrove forest Sundarbans. In addition, they have also supported construction of student dormitories in Mymensingh and contributing to the welfare of autistic childre sawn through Proyash. Other notable CSR activities of this Group include: establishment of the first computer graphics lab in Dhaka University,
228 Ibid
229 “South Korea to provide emergency support of $1m for Rohingyas affected by recent fire,” The Daily Star, April 10, 2021, https://www.thedailystar.net/rohingya-crisis/news/south-korea-provide-emergency-support-1m-rohingyas-affected-recent-fire-2075377
230 “Vice Minister of Foreign Affairs Lee Attends Conference on Sustaining Support for Rohingya Refugee Response,” ReliefWeb, October 27, 2020, https://reliefweb.int/report/bangladesh/vice-minister-foreign-affairs-lee-attends-conference-sustaining-support-rohingya
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promotion of Bangladeshi art, and the multimillion-dollar restoration of Baro Sardar Bari in Sonargaon231
Other Korean Companies such as Samsung R&D Institute, Samsung Electronics, Hyundai E&C and Dohwa Engineering are also engaged in CSR activities. Some notable activities are:
establishment of community clinic and livelihood support for Matarbari residents, providing PPE to fight against Covid-19, afforestation in the Khulna and Sundarban mangrove forest, reconstruction of schools and donation of sports equipment to schools, hosting of student field trips to project sites, IT training sessions for students/teachers, sponsoring of coding contests, establishment of IT lab in BUET, and provision of education and IT materials (e.g. special app Look at Me for autistic children) to underprivileged students(UNB 2021)232.
Impact Assessment of Korean ODA
KOICA Case Study: Bangladesh-Korea Institute of Information and Communication Technology (BKIICT)
Bangladesh-Korea Institute of Information and Communication Technology was established in 2005 with financial and technical support from KOICA. BKIICT is managed by Bangladesh Computer Council and offers short, long and customized ICT courses. This institute offers following diploma courses233:
1. Professional Diploma in IT Administrator (Server) 2. Professional Diploma in IT Administrator (Network)
3. Professional Diploma in Web Applications & Development (.Net Framework) 4. Professional Diploma in Game Development
5. Diploma In Information and Communication Technology
6. Post Graduate Diploma in Information and Communication Technology 7. Diploma In Information and Communication Technology
8. Post Graduate Diploma in Information and Communication Technology
Bangladesh’s software industry is growing domestically, and export of IT products is also experiencing significant growth. Bangladesh’s export earnings in technology sector has grown over 1.3 billion dollars in 2021 from only 26 million dollars in 2008 and government is projecting that it would reach $5 billion by 2025 (The Business Standard 2022).234 In addition, Bangladesh is one of the top IT outsourcing destinations in terms of number of freelancers. At present around one million people are working in IT sector.
231 “‘CSR efforts taken by Korean firms vital to develop Bangladesh’,” The Daily Star, June 27, 2021, https://www.thedailystar.net/business/news/csr-efforts-taken-korean-firms-vital-develop-bangladesh-2119269 232 “‘CSR Brings opportunities for Businesses: Korean Envoy,” UNB, June 27, 2021,
https://unb.com.bd/category/Bangladesh/csr-brings-opportunities-for-businesses-korean-envoy/74567
233 “‘All Courses,” Bangladesh-Korea Institute of Information and Communication Technology, November 27, 2021, http://bkiict.bcc.net.bd/course
234 “‘Export earnings in technology sector exceeds $1.3 billion: Palak,” The Business Standard, February 14, 2022, https://www.tbsnews.net/bangladesh/export-earnings-technology-sector-exceeds-13-billion-palak-370579
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As Bangladesh is aiming at achieving the goal of “Digital Bangladesh”, it is important to have skilled manpower in the field of information and communication technology. According to Bangladesh Association of Software and Information Services (BASIS), BKIICT has played important role in providing IT skilled manpower in Bangladesh.
EDCF Case Study: Ex-Post Evaluation of Development of National ICT Infra-Network Project
This project was taken in 2008 with the aim to improve effectiveness and transparency of public administration service delivery in Bangladesh. Total budget of this project was $37 million.
EDCF provided $30 million to establish a National Monitoring Centre and networking system to connect different ministries by enabling them to share information and communicate via government’s internal portal system. E-Government related training was also provided under the project. Overall this project connected a total of 369 government institutes.
An evaluation was done in 2021 regarding the effectiveness and sustainability of the project.
Organization of Economic Cooperation and Development’s (OECD) Development Assistance Committee (DAC) criteria regarding project evaluation was used in assessing the outcome.
Major criteria of evaluation were relevance, efficiency, effectiveness and sustainability.
Following table provides the result:
Criteria Weight Rating Evaluation Result
Relevance 25% 3.67 .92
Efficiency 25% 3.33 .83
Effectiveness 25% 4.00 1.00
Sustainability 25% 3.00 .75
Overall Result 3.5/4.00 (Successful)
Table: Criteria and evaluation of South Korean projects. Source: EDCF Project Evaluation Report.235
Other Evaluation Reports236
Although most of the Korean projects are successful in general, there are sustainability issues in some cases. For example, Single Decker CNG Bus project’s sustainability score is 2.5 out of 4.00 which is below par making the project unsustainable. One other project Salvage Vehicle Procurement project’s score is 2.00 which is also unsustainable. It can be noted that IT and educational capacity building projects have proved to be more successful in achieving objectives.
Upazila ICT Training and Resource Center for Education (UITRCE) project has a score of 3.5
235 “Evaluation Report,” Economic Development Cooperation Fund, Korea Exim Bank, updated December 20, 2021,
https://www.edcfkorea.go.kr/site/program/board/basicboard/list?boardtypeid=298&menuid=005003004&searchboar dtext1=ENG
236 “Evaluation Report,” Economic Development Cooperation Fund, Korea Exim Bank, updated December 20, 2021,
https://www.edcfkorea.go.kr/site/program/board/basicboard/list?boardtypeid=298&menuid=005003004&searchboar dtext1=ENG
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which makes the project more likely to contribute to be effective in the long run. In particular, it is important to ensure that the benefits from these projects are not limited to project life cycle only. Rather continuous evaluation and monitoring is important to reap the benefit of the projects as long as possible.
Recommendations and Future Directions
1. South Korean ODA is diversified and encompasses many sectors that are contributing to the socioeconomic development of Bangladesh. Although there are projects with the aim to human resource development, more projects should be taken to facilitate human capital development. In particular, KOICA’s contribution in technology sector started to receive significant allocation from 2019. This trend should continue in future as ICT is a fast-growing sector in Bangladesh that will require efficient human resources in future to sustain growth.
2. Data and evaluation show that there are some projects with sustainability issue. These projects are mostly procurement related. In many cases, monitoring ends as soon as the project ends. There should be mechanisms in place to assess the long-term viability of the projects ever after the formal closure of project period. In this way, optimization and best use of resources can be ensured.
3. Although South Korea is one of the top development partners, their contribution and it’s impact are less known compared to contribution of other ODA providers. Steps should be taken to address this issue. This can be done by providing support to conduct regular research on Korea’s ODA and publicize the findings in important forums, organizing joint seminars in universities/research centers involving different media outlets etc. These initiatives will reach mass audiences and people will be able to know more about Korea’s contribution.
Conclusion
Bangladesh-Republic of Korea friendship goes a long way as evident by Korea’s continuous engagement and commitment to foster economic growth and socio-economic development of Bangladesh. Projects and activities taken by KOICA, CSR, EDCF have positively contributed to achieve Bangladesh development throughout last three decades or so. There are, however, room for upgrading current engagement level by both widening and deepening support in different sectors. In particular, more support should be given to areas that create intangible long term outcomes such as human resource development, educational quality improvement, research engagement, health sector capacity development etc. to enable Bangladesh to achieve sustainable development and overcome future challenges. In this way South Korean ODA would be more effective and ties between two countries will grow stronger.