S. Korea, Kenya discuss enhanced economic cooperation

▲ President Yoon Suk Yeol (R) shakes hands with Kenyan President William Ruto during a summit at the presidential compound in Seoul, in this file photo taken Nov. 23, 2022. (Pool photo) (Yonhap)

S Korea-Kenya-economic ties

S. Korea, Kenya discuss enhanced economic cooperation

SEOUL, April 27 (Yonhap) -- South Korea and Kenya discussed ways Thursday to boost bilateral cooperation in economy and major projects in green, digital and various other industry sectors, Seoul's finance ministry said.

The discussion was made during a meeting between South Korea's First Vice Finance Minister Bang Ki-sun and his Kenyan counterpart, Chris Kiptoo, in Seoul, according to the Ministry of Economy and Finance.

Bang voiced expectations for a stronger economic relationship with Kenya through various programs, such as the Economic Development Cooperation Fund (EDCF) and the knowledge sharing program.

The Kenyan delegation expressed gratitude to the Seoul government for raising the EDCF ceiling from US$300 million to $1 billion for the years 2022-26.

South Korea launched the EDCF program in 1987 to help other developing countries with their basic infrastructure.

The Kenyan officials also proposed joint work to push for large-scale state projects in green growth, the digital economy and various other sectors, the ministry said.

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