The Republic of Korea commits additional $3 million to UNDP for 2016Oct 5, 2016
Seoul – The Republic of Korea today pledged an additional $3 million to the United Nations Development Programme (UNDP), supporting its work in democratic governance for peaceful and inclusive societies. The thematic contribution was formalized in an agreement signed today by both parties at a ceremony in Seoul hosted by the Ministry of Foreign Affairs as part of the RoK-UNDP Annual Consultations.
Last month, the Republic of Korea provided $8 million in core funding for 2016 to UNDP – a 14% increase from 2015. Its contributions to UNDP’s regular resources, which have consistently increased since 2013, provide UNDP predictable and the most flexible funding. They enable UNDP to support the poorest and most vulnerable around the world and to respond promptly to crises.
“For over 40 years, UNDP delivered hundreds of projects in various fields to support the people of Korea. Today, as an aid-recipient-turned donor, we are honored to support UNDP as a key partner, not only in democratic governance, but also in the fields of education, health, rural development or the Saemaul Initiatives, among others, as the global community strives to achieve the Sustainable Development Goals,” said Young-soo Lee, Director-General of Development Cooperation Bureau of the Ministry of Foreign Affairs during the 2016 ROK-UNDP Annual Consultations.
At the event, the two parties also signed an agreement on the RoK-UNDP SDG Trust Fund, which aims to build on the success of the RoK-UNDP MDG Trust Fund (2011-2016). The MDG Trust Fund supported 10 country-level projects and 6 global projects to reduce poverty and promote sustainable growth. It also promoted global dialogues to shape the post 2015-development agenda. The SDG Trust Fund will support UNDP programmes and projects to implement Sustainable Development Goals (SDGs) on the ground.
“We at UNDP are extremely grateful for the generosity of the people and the government of the Republic of Korea. Their support of UNDP’s mission and their steadfast commitment to helping improve the lives of people around the world will help make the SDGs a reality and ensure a better future for all,” said Michael O’Neill, UN Assistant Secretary-General and UNDP Director of External Relations and Advocacy.
2016 is a pivotal year for international development as UN Member States seek to implement the Sustainable Development Goals adopted by world leaders last year. As the lead UN development agency, UNDP is uniquely placed to help implement the SDGs. UNDP offers 50 years of experience in sustainable development and remains the partner of choice for governments and other actors across the globe to eradicate poverty, reduce inequalities and exclusion and protect the planet.