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South Korea Decides on $50 Million Aid

Posted January. 04, 2005 22:08,   


South Korea has decided on Tuesday to offer $50 million in direct aid for the next three years for emergency relief and rehabilitation of the tsunami-hit nations in South Asia.

The decision came from an inter-ministerial meeting and comprehensive assistance meeting chaired by Prime Minister Lee Hae-chan. Meetings were held at the public office of the prime minister.

The government already sent $600,000 immediately after the quake, and now is on the process of providing cash aid of $4.4 million additionally. It is also planning to send $45 million for the next three years to come.

The additional cash aid will be used for health education; energy; public infrastructures, including electricity, communication, and roads; and middle or long term rehabilitation of the tourism sector, the Office for Government Policy Coordination explained.

South Korea also said that if victim nations request, it will actively consider providing the Economic Development and Corporate Finance (EDCF) for large-scale rehabilitation projects.

Yong-Gwan Jung yongari@donga.com