(KPL/ Yonhap) The Republic of Korea has set aside 6.5 trillion won (US$4.5 billion) for official development assistance (ODA) this year, despite fiscal difficulties, as global uncertainties continue to rise, acting President Choi Sang-mok said Thursday.

Choi made the remarks during a meeting of the government committee on ODA, citing growing global crises, including conflicts, natural disasters and climate change. ODA refers to government aid aimed at supporting the economic growth of developing nations.

"As global crises intensify, major donor countries are strategically utilizing ODA in alignment with their foreign policies," Choi said.

To reflect such trends, the government has increased this year's ODA budget to 6.5 trillion won, up 3.8 percent from a year earlier, reaching its funding target five years ahead of schedule, he added.

The government had initially set a goal of doubling its annual ODA budget from approximately 3.2 trillion won in 2019 by 2030.

This year, the government plans to focus its ODA efforts on three key areas -- pursuing mutually beneficial projects, supporting the international community's sustainable development goals and enhancing the quality of aid.

Under such principles, the 2025 ODA budget was structured to streamline projects, reducing the total number from 1,976 to 1,928 while increasing the average amount of assistance provided.

Choi also noted that a peer review by the Development Assistance Committee of the Organization for Economic Cooperation and Development (OECD) highly praised the Republic of Korea's commitment to fulfilling its international responsibilities by increasing ODA contributions.

Choi underscored that this year is a critical period as the government prepares a new basic plan that will define the country's ODA vision for the next five years.

"Government agencies, along with experts and civil society, will collaborate to enhance the value and effectiveness of our ODA initiatives," he said.

KPL