Palladium met with the Korea International Cooperation Agency (KOICA) recently to discuss trends in Official Development Assistance (ODA) funding, its growth and the organization’s new strategy changes to the organization with the new KOICA leadership team in Korea. KOICA seeks to become a stronger player in the International Development sector and to triple their ODA spending over the next ten years.
Palladium was represented by Alonzo Fulgham, Palladium Boardmember and former interim Administrator of USAID, and Joan Cabezas, Director of Global Private Sector Solutions at Palladium and were joined by President Chun from our Korean partner, the Korea Institute for Development Strategy. They were welcomed by the new KOICA President Mi-kyung Lee.
The decision to increase spending on ODA has been met with many challenges for Korea. Palladium provided a perspective from other donors such as DFAT, DFID and USAID who have gone through similar growth, the latest donor trends and aid modalities. Alonzo Fulgham shared his experience of USAID and of managing an organisation undergoing rapid transition. He emphasized the importance of openness and transparency as well as measuring and evaluating Korea’s ODA investments.
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