South Korea to provide Ukraine with 2.3bn dollars in aid: what the funds will be used for

TheSouth Korean government has decided to allocate 2.3 billion dollars for the post-war reconstruction of Ukraine. The first part of the amount (300 million) will be received by Kiev in 2024 for humanitarian needs.

From 2025, the remaining 2 billion will be sent to Ukraine as long-term aid - to support social and economic infrastructure. This was announced by South Korean President Yoon Suk Yeol at the G20 summit in New Delhi (India) during the session entitled "One Future", Yonhap reports.

Long-term aid will come in the form of low-interest loans through the Economic Development Cooperation Fund (EDCF). The latter Seoul launched in 1987 to support economic and social infrastructure projects in developing countries.

"This will demonstrate our responsible role as a global pivot state in leading aid to restore peace in Ukraine and lay the groundwork for our full participation in Ukraine's future reconstruction," Yoon Seok-yeol said.

We would like to add that the G-20 summit in New Delhi is the eighteenth meeting of the G-20 heads of state. It takes place on September 9-10 in the face-to-face format.

As OBOZREVATEL wrote:

- The President and First Lady of South Korea came to Ukraine on July 15, 2023. Yoon Suk Yeol and his wife Kim Kon-hee visited not only the capital, but also Bucha and Irpen near Kyiv, and met with Volodymyr and Olena Zelensky.

- The Washington Post previously said that the South Korean government planned to transfer hundreds of thousands of artillery shells to the Ukrainian Defense Forces via the United States.

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