Press Release

Board View

Korea-Multilateral Development Bank Cooperation Accelerates Green Transition in Developing Countries

▷ The 3rd Korea-Multilateral Development Bank green cooperation forum to be held at COEX on June 3

The Ministry of Environment (Minister Han Wha-jin) and the Korea Environmental Industry & Technology Institute (KEITI, President Choi Heung Jin) will hold the ‘3rd Korea-Multilateral Development Bank Green Cooperation Forum’ with major multilateral development banks* (MDBs) on June 3 at COEX in Gangnam-gu, Seoul.

* Banks in which multiple member countries participate, primarily providing economic development funds to developing countries in specific regions

This event is a forum where major MDBs and investors from around the world cooperate and exchange ideas. It was first held in 2022 and has become a regular event, now in its third year.

At this year’s event, representatives from major MDBs such as the World Bank (WB), the Asian Development Bank (ADB), the Inter-American Development Bank (IDB), and the African Development Bank (AfDB) will participate to explain their respective ‘green cooperation project implementation strategies.’ In addition, relevant domestic institutions and companies, including the Export-Import Bank of Korea (KEXIM) and the Korea International Cooperation Agency (KOICA), will also participate to discuss specific cooperation measures for global green transition cooperation. The KEITI, KEXIM, and KOICA will share examples of their cooperation with MDBs. 

Additionally, domestic companies such as Amogreentech, Revotech, and Foresys will have time to introduce smart green technologies. In particular, through this event, the Ministry will focus on discussing not only traditional environmental infrastructure projects (such as sanitary landfills and water treatment plants) but also the circular economy sector (such as resource circulation and plastic waste recycling), which has recently attracted significant interest from MDBs. The aim is to identify and promote new priority cooperative projects tailored to each MDB. 

On the following day, June 4, representatives from the MDBs will visit the ‘45th International Exhibition on Environmental Technology & Green Energy (ENVEX 2024)’ held at COEX. They will then visit Hanam Union Park and the Seoul Energy Dream Center to directly observe green technologies and application cases that can be utilized to address environmental challenges in developing countries.

The Ministry has consistently worked to expand the participation of domestic companies in the regional procurement markets of MDBs, leveraging the strengths these banks have in the green transition markets of developing countries. Specifically, KEITI, an affiliate of the Ministry, has strengthened cooperation with major MDBs by signing environmental cooperation memorandums of understanding (MOUs) with the WB in 2017, the IDB in 2018, the ADB in 2019, the Central American Bank for Economic Integration (CABEI) in 2022, and the AfDB in 2023. 

This year, as part of environmental cooperation projects with MDBs, a ‘Pre-feasibility study on the Ghana textile waste reuse and recycling facility (AfDB)’ is underway. This follows up on the MOU with the AfDB signed last year and aims to create jobs and solve environmental issues through the reuse of textile waste. In addition, other projects are in progress, including the ‘Pre-feasibility study for integrated solid waste management facility in Bangladesh (WB),’ the ‘feasibility study for waste resource recycling facility in Panama,’ and the ‘Development of an implementation plan for improving wastewater treatment infrastructure in Belize.’  

Jang Ki-bok, Director General of Green Transition Policy Bureau, stated, “The world is rapidly transitioning to a sustainable green transition socio-economic system, regardless of whether countries are developed or developing.” He added, “We will spare no effort in supporting the establishment of Korea’s excellent green technologies as a cooperative channel for achieving the shared goal of global green transition, through close cooperation with MDBs that are actively expanding investments to address the climate crisis in developing countries.”

For further information, please contact the Public Relations Division. 

Contact person: Gina Lee, foreign media spokesperson

Phone: +82-44-201-6055

Email: gcjgina