Eximbank to support e-gov't projects in developing cities
Eximbank Korea Senior Executive Director Kim Sung-taek, right, meets with World e-Government Organization of Cities and Local Governments (WeGO) Secretary General Nam Young-sook for the signing of an MOU at the bank’s headquarters on Yeouido, Seoul, Tuesday. / Courtesy of Eximbank
By Nam Hyun-woo
The Export-Import Bank of Korea (Eximbank) said Wednesday it will provide support for developing countries looking to introduce e-government systems that can raise administrative efficiency.
The bank Tuesday signed a memorandum of understanding (MOU) with the World e-Government Organization of Cities and Local Governments (WeGO), agreeing that the bank would support the international body’s e-government projects in developing countries through the Economic Development Cooperation Fund (EDCF).
EDCF is a low-interest, long-term official development assistance loan program, established by the Korean government in June 1987. Functions related to the operation and management of the EDCF are entrusted to the bank.
The MOU also includes details on WeGO’s support of Eximbank’s feasibility study on EDCF e-government projects.
The MOU came amid the increasing significance of the EDCF’s support for e-government projects. With the MOU, 63 WeGO member cities in countries subject to the EDCF will likely enjoy support for their e-government projects, the bank said in a statement.
“Through cooperation with WeGO, the bank will play a leading role in passing along Korea’s excellent e-government system to developing countries and increase its contributions in helping cities to set up e-government systems,” said Eximbank Korea Senior Executive Director Kim Sung-taek.
WeGO is an international cooperative body for cities and local governments seeking sustainable urban development based on e-government systems. Established in September 2010, it has 95 member cities and its secretariat is hosted in Seoul.