Seoul Korea, October 21, 2021 – During the 1st RoK-BIMP-EAGA (Republic of Korea-Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area) Senior Officials Meeting (SOM), the Global Green Growth Institute (GGGI) signed a Memorandum of Understanding (MoU) with the Ministry of Foreign Affairs of the Republic of Korea (MOFA) at the MOFA headquarters. The MoU was signed by Dr. Kyung-Nam Shin, Assistant Director-General of GGGI and Eui-hae Cecilia Chung, Director General of MOFA.
In 2021, the BIMP-EAGA-the Republic of Korea Cooperation Fund (BKCF) was newly established by MOFA to promote cooperative projects in the fields of environment, tourism, and connectivity. Representatives of the participating countries agreed that the RoK-BIMP-EAGA cooperation would contribute to the promotion of inclusive and balanced growth and ASEAN connectivity in Southeast Asia and discussed ways to promote collaboration between the two sides.
In particular, with the rising concerns from climate-vulnerable BIMP-EAGA countries, GGGI’s participation will establish trilateral cooperation to support and expedite BIMP-EAGA countries’ efforts to respond to climate change.
The GGGI and MOFA signed a cooperative MoU on the effective management of the BKCF by designating GGGI as a depository of the BKCF and successful implementation of BKCF-funded projects.
GGGI hopes that the BKCF and the synergies of the trilateral cooperation provide a stepping stone for BIMP-EAGA countries to develop sustainable projects that can drive the transition towards a green economy model and inclusive green growth.
The first call of proposals for the BKCF will be announced soon in close consultation with BIMP-EAGA Countries.