South Korea commits $3 mn to aid climate action efforts in Central Asia

11 Nov 2024 CW Team

The South Korean government announced that it plans to donate $3 million over the next three years to support climate change initiatives in Central Asia.

According to the finance ministry, the agreement for this contribution to the Climate and Sustainability Project Preparatory Fund was signed on Friday during ministerial-level meetings in Kazakhstan under the Asian Development Bank's (ADB) CAREC program. This program is a collaboration among 11 countries and development partners focused on advancing regional growth and cooperation, as reported by Xinhua News Agency.

The ministry also stated that South Korea, a founding member of ADB's newly established fund, will make the largest contribution among its founding members.

The fund will be used to develop infrastructure, promote energy projects, and support agriculture, fisheries, and the stabilization of regional supply chains. The ministry expressed hope that the fund would enhance communication and partnerships between South Korea and Central Asian countries, potentially leading to various climate-focused projects driven by Seoul's contribution.

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