BRIEF

Korea Green Growth Partnership

February 10, 2014

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WHO WE ARE AND WHAT WE DO

The Korea Green Growth Trust Fund (KGGTF) is a partnership between the World Bank Group (WBG) and the Republic of Korea (RoK). Our ultimate goal is to support countries in their efforts to design, plan, and implement Green Growth strategies and investments. Our unique approach provides countries with access to the experiences of policy makers and Green Growth technical practitioners. These experts, from countries such as RoK, share know-how for developing healthy economies without sacrificing environmental protection and climate-change resilience. The KGGTF seeks to strengthen and expand the World Bank’s green, climate change investment portfolio by sharing evidence-based and practical knowledge with WBG staff, WBG client countries, and other partners.

A FORMULA THAT WORKS

The Korea Green Growth Trust Fund was created in 2011 in partnership between the Republic of Korea and the World Bank Group to support client countries as they shift to a green development path. Both partners share a common goal to reduce poverty and promote shared economic prosperity in an environmentally responsible and socially inclusive way. The Trust Fund finances on-the-ground programs as well as knowledge exchange activities. To date the WBG-managed KGGTF has approved 80 programs totaling approximately US$41 million in the urban, transport, information and communication technology, energy, environment, water, and climate sectors.

The KGGTF has a formula that works. By utilizing South Korea’s experiences, expertise, and investments, the KGGTF finances and facilitates the sharing of Green Growth technical know-how in an effort to support the WBG, International Finance Corporation (IFC), and client country project design and investment. KGGTF’s emphasis is on implementing economic pathways and solutions that integrate multi-sector needs, technological innovation, social inclusion, and Green Growth approaches.

KGGTF leverages the real-world experience of policy makers and Green Growth technical practitioners to integrate Green Growth concepts into investment decisions.

In fact, 24 out of the 80 grant activities mentioned before have supported WBG lending operations linked to US$5.4 billion, pairing Green Growth principles with sustainable development.

Based on strong performance, as well as increasing demand for collaborative development implementation programs, our fund was replenished at the end of 2015 and has grown to a US$88 million World Bank Group program through 2021.


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Contact

Eun Joo A. Yi
Korea Green growth Trust Fund Coordinator
eyi@worldbank.org