MANILA – The leading development agencies of the United States and South Korea on Wednesday signed a memorandum of understanding (MOU) to advance development cooperation in the Philippines.
Through this MOU, the US Agency for International Development (USAID) and the Korea International Cooperation Agency (KOICA) will elevate collaboration to foster sustainable development in the country.
“The United States is proud to partner with the Korean government on projects to promote mutual development goals in the Philippines. Together, we are supporting the Philippine government in creating a more prosperous, sustainable society for all Filipinos,” US Embassy Chargé d’Affaires John Law said.
Seoul, meanwhile, is optimistic that it would reach more Filipinos through its development projects, with Washington D.C. as its partner.
“The Korean government is glad to enhance its partnership with the US under this MOU in promoting sustainable and inclusive development in the Philippines. Together with the US, Korea hopes to reach out to the Filipinos in the Bayanihan spirit, which is at the heart of Korea’s development cooperation efforts in the Philippines,” Korean Ambassador to the Philippines Kim Inchul said.
The new partnership, signed by USAID Philippines Mission Director Lawrence Hardy II and Acting KOICA Philippines Country Director Jasesang Hwang, builds upon a 2019 global MOU for development cooperation between the two nations.
Over the past 30 years, Seoul has expanded its development assistance in both grants and budgetary support and is the second-largest development assistance donor in the country.
Washington D.C., on the other hand, has provided more than USD5.1 billion (approximately PHP247.5 billion) in support to the Philippines since 1961. (PNA)