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2010-02-17 03:42:19 |
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'Basic Law for International Development Cooperation' was legislated. |
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The proposed 'Basic Law for International Development Cooperation'
which stipulates fundamental elements regarding ODA activities was approved by the National Assembly on December 29, 2009. As a result, the Korean Government has finally grounded the legal framework on ODA. ODA related operations which have been fragmented to some 30 institutions will be integrated into two ministries. Grant activities will be operated by the Ministry of Foreign Affairs and Trade and credit assistance operations will be conducted by the Ministry of Strategy and Finance according to the new law. The International Development Cooperation Committee which is established under the Prime Minister will control and coordinate overall ODA policies and activities. The law will contribute to enhancing consistency and effectiveness of ODA administration by determining the definition, basic consensus, and objectives of international development cooperation of Korea. By legislating the law, Korea has begun to reinforce its ODA system to meet global standards and implement DAC recommendations. This law will be effective 60 days after the procedures for promulgation and detailed decrees will be arranged within the first half of next year. |
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