WBG KGGTF 10th Anniversary Conference
MOEF Hosts WBG KGGTF 10TH Anniversary Conference
The Ministry of Economy and Finance (MOEF) and the World Bank Group (WBG) co-hosted the World Bank Group Korea Green Growth Trust Fund (KGGTF) 10th Anniversary Conference in Seoul on December 1. As a sole trust fund that is dedicated to green growth in the World Bank (WB), the KGGTF was established in 2012 with an aim of sharing Korea’s green growth technologies and experiences with developing countries. The government has so far pledged to contribute 140 million-dollar to the fund, supporting 197 projects in 60 countries.
This conference was joined by about 300 participants from the related Korean ministries, public and private institutions, governments of the WB’s client countries and the WB project teams.
The conference was composed of five sessions:
1) Opening Session: Green Growth Achievements and Mission for the Future
2) Plenary Session: Green Growth Partnerships for 2050 Carbon Neutrality
3) Green Growth Impacts with the KGGTF – Experiences and Lessons Learned
4) Youth Inspired: Voices from Youth for Green Growth
5) Special Ceremony
Moreover, the conference is providing an opportunity for holding a knowledge sharing event on green growth fund projects and officials from 10 KGGTF grant teams, 15 client countries and related Korean organizations will participate in it. The Korean organizations are expected to see tangible outcomes in developing countries’ green growth by sharing their technical expertise in green growth with the WB and the client countries.
The followings are three representative cases where the KGGTF has produced conspicuous results in developing countries’ green growth.
- In Uganda, the fund helped Korea’s K-water establish the Water Resources Institute (WRI) and foster educators in association with the WB lending project worth about 280 million dollars
- In Bhutan, the fund played a key role in implementing the Green Climate Fund (GCF)’s transportation project worth about 25 million dollars in collaboration with Korea’s Green Technology Center (GTC)
- In Uzbekistan, the fund contributed to soil testing technology transfer and exchange in collaboration with Korea’s Rural Development Administration, which is part of the WB lending project worth about 6.1 million dollars
At this event, the government suggested three directions for qualitative development of KGGIF as follows.
- Enhance association with investment in green Official Development Assistance (ODA) through large-sized joint projects in the green sector to see more practical and tangible outcomes in developing countries’ green growth
- Expand cooperation with private sectors to encourage Korean companies to fulfill their responsibilities on Environmental, Social, and Governance (ESG) and facilitate the use of private sector’s expertise in the related areas
- Take the lead in the global community’s effort to attain carbon neutrality and green growth, contributing to developing countries’ achieving their Nationally Determined Contribution (NDC) targets and carbon neutrality with technology transfer
Going forward, the MOEF will share Korea’s technologies and experiences on green growth with developing countries by strengthening cooperation with the WB and continue to pursue international policy coordination for the climate crisis response and inclusive green transition.
Please refer to the attached pdf.
