Published in: The Business Standard
Date: 27 October, 2020

South Korea is planning to contribute to Bangladesh’s damage mitigation efforts with the loan and develop follow-up projects for more cooperation in health and medicine

The Korean Ministry of Economy and Finance on Monday announced that it would provide Bangladesh with a loan of US$50 million from the Economic Development Cooperation Fund (EDCF) to assist in its coronavirus response.

The ministry is planning to contribute to Bangladesh’s damage mitigation efforts with the loan and develop follow-up projects for more cooperation in health and medicine, reports BusinessKorea.

Earlier on October 14, the ministry made the same decision for the Philippines and Cambodia.

The Philippines will get US$100 million aid, which will be utilised for local health and medical infrastructure expansion, infectious disease response, and the like.

The US$50 million aid for Cambodia will be used for public medical system expansion and response to emergencies such as infectious diseases.

The ministry is expected to work with the Korea Foundation for International Healthcare to support research on such diseases.

The aid for Bangladesh will be used for the same purposes.

Source: https://tbsnews.net/coronavirus-chronicle/covid-19-bangladesh/south-korea-provide-50m-covid-19-aid-funds-bangladesh