The leading development agencies of the United States and the Republic of Korea on Wednesday, April 7, signed a Memorandum of Understanding (MOU) to advance development cooperation in the Philippines.
U.S. Embassy Chargé d’Affaires John Law and Korean Ambassador to the Philippines Inchul Kim joined USAID Philippines Mission Director Lawrence Hardy II and Acting KOICA Philippines Country Director Jasesang Hwang for the MOU signing at the U.S. Embassy in Manila.
“The United States is proud to partner with the Korean government on projects to promote mutual development goals in the Philippines. Together, we are supporting the Philippine government in creating a more prosperous, sustainable society for all Filipinos,” said Chargé d’Affaires Law.
The MOU aims to strengthen U.S.-Korean partnership to foster sustainable development. It builds upon a global MOU for development cooperation signed by USAID in Washington, DC and the Korean Ministry of Foreign Affairs in 2019.
“The Korean government is glad to enhance its partnership with the U.S. under this MOU in promoting sustainable and inclusive development in the Philippines. Together with the U.S., Korea hopes to reach out to the Filipinos in the Bayanihan spirit, which is at the heart of Korea’s development cooperation efforts in the Philippines,” said Ambassador Kim.
The United States and Korea are among the largest bilateral donors in the Philippines. Over the past 30 years, Korea has expanded its development assistance in both grants and budgetary support and is the second-largest development assistance donor in the Philippines.
Through USAID, the United States has a robust foreign assistance portfolio and has provided more than $5.1 billion (Php247.5 billion) in support to the Philippines since 1961.
USAID and KOICA’s development assistance programs span an array of sectors, including poverty reduction in rural areas, empowerment of women and girls, water resource management, community rehabilitation in Marawi, and climate resilience. Under the MOU, USAID and KOICA will explore additional areas of cooperation in these and other sectors in the Philippines.