Korea - World Bank Group Partnership Facility (KWPF)

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00:08 The story of Korea's economic development is remarkable.

00:12 In the early 1960s,

00:14 the country received support from the

00:15 World Bank's International Development Association.

00:19 By 1970,

00:21 Korea graduated from IDA and became an IDA donor.

00:24 By the 1990s,

00:26 it graduated from IBRD

00:28 and in 2010,

00:29 it joined the OECD Development

00:31 Assistance Committee.

00:33 Today Korea is one of the world's leading economies,

00:36 a generous development aid donor,

00:38 a leader in many sectors,

00:40 and shares with the world lessons from its experience.

00:44 Korea's partnership with the World Bank encompasses both financial support and

00:49 knowledge transfer.

00:51 Between fiscal years 15 and 19,

00:53 total contributions from Korea reached over $1 billion

00:57 across IDA and 25 trust funds.

01:00 The Korea World Bank Partnership Facility KWPF,

01:04 which we are proud to host in DFI.

01:07 is Korea's largest trust fund allocation to a multilateral development bank

01:12 at $320 million between 2013 and 2023.

01:17 The facility leverages both Korea's

01:19 financial contribution and technical know-how

01:22 in the multiple sectors in which Korea is a world leader.

01:27 We are proud of our partnership with Korea and thankful for the support,

01:31 which continues to make a significant contribution

01:34 to the development of our client countries.

01:38 Korea is a critical partner,

01:39 including through trust funds like the Korea World Bank Partnership Facility.

01:43 The facility is helping to mainstream and

01:45 accelerate the adoption of innovative solutions through

01:48 knowledge sharing and technical assistance in sectors

01:51 where Korea is a global leader.

01:54 These include agriculture,

01:55 health,

01:56 ICT and innovation,

01:57 and skills development.

01:59 Each KWPF grant facilitates a collaboration with

02:02 at least one Korean institution or expert

02:05 to leverage Korea's know-how.

02:07 These partnerships contribute to KWPF grants strong development results.

02:11 We're extremely grateful to the government of Korea for this very,

02:15 very strong partnership.

02:20 Korea is a leader in smart agriculture.

02:23 With support from the Korea World Bank Partnership Facility,

02:27 we engage innovators across Africa

02:30 to test innovative approaches to agriculture developed in Korea.

02:35 With KWPF support,

02:37 we now have a database of all Agritech startups in Africa

02:42 to better target our innovation,

02:44 investments,

02:45 and more quickly scale up

02:47 successful pilots.

02:50 Thanks to Korea,

02:50 these programs have the potential

02:53 to transform agriculture in

02:55 Africa across the entire

02:57 value chain.

03:02 Technology and innovation have been the

03:04 driving force behind Korea's economic miracle.

03:07 Through the Digital Development Partnership and the KWPF,

03:11 we're leveraging Korea's knowledge and expertise to deliver

03:13 digital solutions to our clients globally and regionally.

03:17 This includes collaboration on digital skills,

03:19 digital switchover,

03:20 cybersecurity,

03:21 5G,

03:22 and digital application in sectors like agriculture and health in Africa and Asia.

03:31 Korea is a global leader in market-driven approaches

03:35 to skills development and social protection for workers.

03:39 Through the Korea World Bank Group Partnership Facility trust fund,

03:43 we are leveraging Korea's experience in 10 low and middle income countries

03:49 to modernize their labor markets and social protection

03:51 systems for the new world of work.

03:54 Together with Korea,

03:56 we are helping our client countries first

03:59 to shift to market-driven skills development programs

04:01 in partnership with the private sector.

04:04 Second,

04:04 to strengthen cognitive and social-emotional

04:07 skills increasingly demanded by employers.

04:10 3rd,

04:11 to support inclusion of women and youth in job markets.

04:15 And 4th,

04:16 to modernize labor market policies and worker protection systems.

04:20 Examples of impressive results achieved through the trust fund

04:25 include support for Bangladesh's e-governance system

04:28 for social protection

04:30 and creation of Indonesia's new labor market

04:33 information system.

04:38 Korea is a leader in transforming health service delivery.

04:41 Through this trust fund,

04:43 we're leveraging Korea's expertise to help countries like Kenya and Ghana

04:47 with new research and policy

04:49 to address chronic diseases like cancer,

04:51 diabetes and heart diseases.

04:54 The government of Korea remains a steadfast and

04:57 highly valued partner of the World Bank Group,

05:00 and we look forward to continuing our strong partnership in years to come.

05:05 Looking ahead,

05:07 we will continue to leverage the Korea World Bank Partnership Facility

05:11 through the latest replenishment of $140 million US dollars to achieve

05:16 strong development outcomes.

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The story of Korea's economic development is remarkable. In the early 1960s, the country received support from the World Bank's International Development Association. By 1970, Korea graduated from IDA and became an IDA donor. By the 1990s, it graduated from IBRD and in 2010, it joined the OECD Development Assistance Committee. Today Korea is one of the world's leading economies, a generous development aid donor, a leader in many sectors, and shares with the world lessons from its experience. Korea's partnership with the World Bank encompasses both financial support and knowledge transfer. Between fiscal years 15 and 19, total contributions from Korea reached over $1 billion across IDA and 25 trust funds. The Korea World Bank Partnership Facility KWPF, which we are proud to host in DFI. is Korea's largest trust fund allocation to a multilateral development bank at $320 million between 2013 and 2023. The facility leverages both Korea's financial contribution and technical know-how in the multiple sectors in which Korea is a world leader. We are proud of our partnership with Korea and thankful for the support, which continues to make a significant contribution to the development of our client countries. Korea is a critical partner, including through trust funds like the Korea World Bank Partnership Facility. The facility is helping to mainstream and accelerate the adoption of innovative solutions through knowledge sharing and technical assistance in sectors where Korea is a global leader. These include agriculture, health, ICT and innovation, and skills development. Each KWPF grant facilitates a collaboration with at least one Korean institution or expert to leverage Korea's know-how. These partnerships contribute to KWPF grants strong development results. We're extremely grateful to the government of Korea for this very, very strong partnership. Korea is a leader in smart agriculture. With support from the Korea World Bank Partnership Facility, we engage innovators across Africa to test innovative approaches to agriculture developed in Korea. With KWPF support, we now have a database of all Agritech startups in Africa to better target our innovation, investments, and more quickly scale up successful pilots. Thanks to Korea, these programs have the potential to transform agriculture in Africa across the entire value chain. Technology and innovation have been the driving force behind Korea's economic miracle. Through the Digital Development Partnership and the KWPF, we're leveraging Korea's knowledge and expertise to deliver digital solutions to our clients globally and regionally. This includes collaboration on digital skills, digital switchover, cybersecurity, 5G, and digital application in sectors like agriculture and health in Africa and Asia. Korea is a global leader in market-driven approaches to skills development and social protection for workers. Through the Korea World Bank Group Partnership Facility trust fund, we are leveraging Korea's experience in 10 low and middle income countries to modernize their labor markets and social protection systems for the new world of work. Together with Korea, we are helping our client countries first to shift to market-driven skills development programs in partnership with the private sector. Second, to strengthen cognitive and social-emotional skills increasingly demanded by employers. 3rd, to support inclusion of women and youth in job markets. And 4th, to modernize labor market policies and worker protection systems. Examples of impressive results achieved through the trust fund include support for Bangladesh's e-governance system for social protection and creation of Indonesia's new labor market information system. Korea is a leader in transforming health service delivery. Through this trust fund, we're leveraging Korea's expertise to help countries like Kenya and Ghana with new research and policy to address chronic diseases like cancer, diabetes and heart diseases. The government of Korea remains a steadfast and highly valued partner of the World Bank Group, and we look forward to continuing our strong partnership in years to come. Looking ahead, we will continue to leverage the Korea World Bank Partnership Facility through the latest replenishment of $140 million US dollars to achieve strong development outcomes.

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title

KOREA WB 2020 18 02 20

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KOREA WB 2020 18 02 20

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