Mon Sep 30 17:20:05 UTC 2024: ## Republic of Korea Boosts Funding for UNDP, Signaling Commitment to Global Development

**New York/Seoul –** The United Nations Development Programme (UNDP) has received a significant boost to its core funding with the Republic of Korea pledging US$18 million in contributions for 2024. This marks a 70% increase from last year and reflects the country’s commitment to strengthening its Overseas Development Assistance to the international community.

UNDP Administrator Achim Steiner expressed deep gratitude for the Republic of Korea’s unwavering partnership and trust, highlighting its importance at a time when many nations are scaling back international development funding. “This generous support enables UNDP to continue supporting governments and communities in their efforts to reduce poverty and accelerate progress towards inclusive, green, and digital transitions,” said Steiner.

The Republic of Korea has been a strong supporter of UNDP’s initiatives, including its efforts to integrate humanitarian, development, and peace initiatives (the HDP nexus) in fragile contexts like Ukraine and Myanmar. The country also contributes to UNDP’s flagship Human Development Report, promotes development effectiveness, and provides thematic funding for specific projects.

Steiner recently met with H.E. Mr. Cho Tae-yul, the Republic of Korea’s Minister for Foreign Affairs, to discuss ongoing partnerships and explore new avenues for collaboration, including in areas such as digitalization, AI, democratic governance, and crisis response. In October, Steiner will visit Seoul to meet with Korean officials and attend the Seoul Debates 2024, organized jointly by the UNDP Seoul Policy Centre and the Ministry of Foreign Affairs.

This significant increase in funding from the Republic of Korea underscores the importance of international cooperation in achieving the Sustainable Development Goals. It sends a strong message that the global community needs to increase, not decrease, its investment in sustainable development to address pressing global challenges.

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