BELIZE-Belize seeking South Korean help for membership of the World Bank body.

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BELMOPAN, Belize, CMC – Belize is seeking the assistance of South Korea in seeking membership to the World Bank’s International Development Association.

A government statement issued here said that Prime Minister John Briceño, due to return to Belmopan later on Monday, held talks with his South Korean counterpart, Han Duck-soo, on the Caribbean Community (CARICOM) country’s membership.

Briceño, leading a five-member delegation to the Asian country, attended the World Climate Industry Expo 2023 – Leaders’ Summit, and the statement said in talks with Prime Minister Duck-soo requested South Korea’s support for Belize’s application.

“Should the application be approved, Belize can gain access to grants and concessionary financing for climate finance projects,” it said, adding that Prime Minister Briceño also requested that the South Korean Prime Minister “considers Belize’s eligibility for the Korean Economic Development Co-operation Fund, a line of credit with a 0.18 percent interest rate.”

The statement said that Prime Minister Duck-soo proposed a bilateral agreement with Belize wishing to donate one million US dollars in information technology equipment and three million US dollars to support the works of the Statistical Institute of Belize.

It said that South Korea also proposed increasing trade opportunities, sharing science and technology expertise in the agro-productive sector, and implementing a scholarship program to benefit more Belizeans. Currently, there are 13 Belizeans studying in South Korea.

The statement quoted Prime Minister Briceño as extending “his gratitude to the Prime Minister and government of South Korea for their hospitality and support to Belize, especially during the COVID-19 pandemic, recovery efforts after hurricanes Eta and Iota, and the feasibility study conducted on hospitals in Belize through the Central American Bank for Economic Integration with the Korean trust fund”.

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