Video: World Bank Group
©2020. All Rights Reserved.
IN the space of fifty years, South Korea was transformed from a poverty-stricken nation that had been devasted by war to a thriving developed nation whose economic development engine was linked to twenty-first century green growth principles and policies.
Korea’s remarkable transition over several decades from the recipient of global aid to a strong, thriving economy and World Bank donor is an inspiring story. As a nation, its first-hand experience developing solutions across the urban, transport, information and communication technology, energy, environment, water and agriculture sectors is highly relevant for many developing countries facing similar challenges.
Korea’s visionary leadership in green growth policies, integration of ground-breaking technologies, and long-term sustainable thinking is an inspiring story for governments around the world. Its first-hand experience implementing integrated solutions across the urban, transport, information and communication technology, energy, environment, agriculture and water sectors is highly relevant for countries working to design and implement robust green growth investments and build a sustainable future through green growth.
The objective of the Korea Green Growth Trust Fund is to mainstream inclusive green growth throughout the World Bank’s lending operations and to help World Bank client countries identify and implement the most innovative, technical and operational solutions to their specific development challenges.
In partnership with the World Bank, the Korea Green Growth Trust Fund (KGGTF) was established in 2011 to strengthen and expand the World Bank’s global green growth portfolio by tapping expertise from Korea’s successful green growth experience and investment through public and private resources. Its central approach is to support the World Bank and its clients to operationalize inclusive green growth initiatives, strategies, and investments. The Trust Fund partners closely with World Bank Global Practices as they work with client countries to develop a holistic green growth strategy, and most importantly, implement the projects identified in their strategies.
Today the Korea Green Growth Trust Fund finances on-the-ground programs as well as knowledge exchange activities, and to date has approved 144 grant programs in the urban, transport, information and communication technology, energy, environment, water, climate and agriculture sectors.
KGGTF prioritizes programs that:
Focus on low and lower-middle income economies
Operationalize green growth and sector integration
Outline green policies and programs that increase productivity and create jobs
Provide clear and specific technical concepts and activity planning
Have the potential to become large-scale projects led by the WBG World Bank Group or client countries
At A Glance
Allocation by Sector
Allocation by Region
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The Republic of Korea has been at the forefront of green growth initiatives.
Recently, Korea launched the new Five-Year Plan 2019-2023 that provides a comprehensive policy framework for green growth while representing a new vision for an “Inclusive Green Country”. This plan includes three strategies, five policy directions and twenty policy commitments - one of which highlights pursuing Green ODA and the partnership with MDBs.
Years of dynamic growth strengthened Korea’s economic potential, provided invaluable experience, and created a successful model for others to follow. Extensive knowledge and understanding of sustainable development mechanisms, as well as a sense of shared responsibility for the future of the planet inspired the foundation of the Korea Green Growth Trust Fund (KGGTF) that is now in its eighth year of operations.
KGGTF activities are strongly motivated by the awareness of risks created by climate change and a need for responsible management of natural resources
Director Dae Joong Lee, Director of Development Finance Division,
Ministry of Economy & Finance (MOEF), Republic of Korea
From the beginning the KGGTF Korea Green Growth Trust Fund mission focused on mainstreaming inclusive green growth throughout the World Bank’s lending operations and creating a platform for supporting multisectoral cooperation, leveraging knowledge from Korea’s experience of green growth, and building a community of practice committed to promoting sustainable economic growth while protecting the environment. KGGTF Korea Green Growth Trust Fund activities are strongly motivated by the awareness of risks created by climate change and a need for responsible management of natural resources that is critical for the well-being of the planet and its global community.
The Republic of Korea is honored to collaborate with the World Bank and to offer leadership and guidance to countries shifting to a green growth pathway aimed at achieving longterm sustainable development. We hope our continuing contribution and the growing impact of KGGTF Korea Green Growth Trust Fund will further strengthen cooperation between Korea and the World Bank and progress towards our mutual goals to reduce poverty and promote shared prosperity.
Director Dae Joong Lee
Director of Development Finance Division,
Ministry of Economy & Finance (MOEF), Republic of Korea
EUN JOO ALLISON YI
Eun Joo Allison Yi is a Senior Operations Officer at the World Bank Group and leads the Korean Green Growth Trust Fund (KGGTF) as the Program Manager and Technical Advisor.
Yi’s expertise spans the public, private and multilateral sectors. She has worked with clients in the science, technology, engineering, environment and pharmaceutical industries in addition to national and international state agencies. Prior to leading the KGGTF Korea Green Growth Trust Fund she worked with IFC Advisory Services within the World Bank Group on private sector resource efficiency and clean energy initiatives. She has lived in both Norway and Russia, and previous roles have included international science diplomacy, climate change policy, energy, and environmental issues in her capacity as a consultant, and for an international secretariat working with the US EPA and State Department. She received her Bachelor of Science from State University of New York at Stony Brook, and holds a Master of International Affairs degree from Columbia University School of International and Public Affairs specializing in both International Energy Management and Environmental Policy Studies. In her role at KGGTF she leads the integration of Green Growth best practices into client country projects across the World Bank Group.
Jisung Moon is a Senior Economist at the Korea Green Growth Trust Fund and specializes in Korean Green Growth Policy as well as macro-financial economic issues. He joined the World Bank in February 2O19. Prior to joining the World Bank, Jisung worked for the Korean Finance Ministry as a director, and for the International Monetary Fund as an economist. He studied business administration at Seoul National University and holds an M.A. in public administration from Seoul National University and an M.A. from London Business School. In his role at KGGTF he advances the sharing of experiences of Korean Green Growth Policy.
Jie-Ae Sohn is a Senior Communications & Media Consultant to the Korea Green Growth Trust Fund. She is based in Seoul, Korea, and is also an invited professor specializing in International Communications at Ewha Womans University’s Graduate School of International Studies. Previously she served as CEO at Arirang TV and Radio (2O11-14), and in that role became the first female CEO of a major broadcasting station in Korea. Prior to that, Sohn served as the overseas Public Affairs Secretary to President Lee Myong Bak, whose administration pioneered the area of global Green Growth. She began her career in international journalism as CNN’s Seoul correspondent and bureau chief from 1995 to 2O1O, covering both South and North Korea. She reported for global media outlets like the New York Times and Bloomberg. She holds a political science degree from Ewha Womans University and a master’s in journalism from Yonsei University. In her role at KGGTF she helps the world and others at the World Bank better understand what the Fund does through its activities around the globe.
JOHN HOSUNG LEE
John Hosung Lee is an Operations Officer at the Korea Green Growth Trust Fund and specializes in the urban and transport sectors. His particular interest is in non-traditional, innovative organizational and governance structures, and how they lead to the implementation and support of green growth strategies. He has worked at the World Bank since 2O12 solving urban problems through governance, effective planning, use of ICT and the promotion of private sector development. Prior to joining the World Bank, Hosung Lee worked at the Korea Research Institute for Human Settlements, and for a Management Consulting firm in Korea. He studied architecture at Korea University in Seoul and holds an M.S. in urban planning from Columbia University. In his role at KGGTF he advances the sharing of best practices across the transport and urban sectors.
Kitty Halpern is a Strategic Initiatives Consultant to the Korea Green Growth Trust Fund. She specializes in forging non-traditional partnerships between the nonprofit, education, business and philanthropic communities. Previously she worked with the Center on Global Economic Governance at Columbia University, an economic think tank where she focused on connecting relevant research with key business and political leaders to enact change. Prior to that she served as Vice President of INFORM at the Commonwealth Club of California, where she brought awareness to important ideas that could benefit society. Halpern’s experience spans the globe with a particular concentration in Tokyo, where she worked to introduce major U.S. companies into the Japanese market She holds both undergraduate and graduate degrees from Columbia University. In her role at KGGTF Kitty communicates best-practices and disseminates key learnings across different client countries and industry groups within the World Bank and with stakeholder groups globally.
Faye Gardiner is a Strategy Consultant to the Korea Green Growth Trust Fund. Uniquely adept at developing and implementing strategies for reaching and engaging customers and stakeholder groups, Faye has extensive experience developing strategies and brokering partnerships that enable businesses and organizations to acquire customers, drive engagement and loyalty, and expand into new markets. Faye holds a law degree from the University of Wales, UK United Kingdom . Her experience spans public, private and non-profit sectors and she has worked both in-house and as a consultant in the UK and US for global businesses in media, law and finance. She served on the Secretariat for the Joint Information Systems Committee, a Government-funded agency providing digital solutions for UK education and research. She has held management and director level roles at brand consultancies FutureBrand, Adoreum Partners and Dragon Rouge, and at leading law firm Mishcon de Reya, where she led marketing for the firm’s Corporate, Employment, Finance & Banking practices. In her role at KGGTF Faye’s focus is on strategic initiatives including monitoring and evaluation of the trust fund’s performance and impact.
Hanul Oh is an Operations Analyst at the Korea Green Growth Trust Fund, World Bank Group. She specializes in the environment and climate change sector and joined the World Bank in 2O19. Hanul supports portfolio management, developing and maintaining technical partnerships with counterparts, and capacity-building programs on green growth infrastructure in KGGTF Korea Green Growth Trust Fund ’s operating sectors. Her experience includes public, private, and the non-profit sector. Before joining the World Bank, she worked with ICLEI as a biodiversity officer in Korea and UN Environment as a technical and administrative assistant in Kenya. Prior to that, she worked with Korea District Heating Corporation, Standard Chartered Bank, and Energy Peace. She holds a Master of Science in International Development and Environment from the University of Manchester and BA and BS from Sookmyung Women’s University in International Development and Environmental Studies. She is also the finalist of the ”International Environmental Expert Training Program” hosted by the Ministry of Environment in 2O15.
NA RA KIM
Na Ra Kim is an Operations and Knowledge Management Analyst at the Korea Green Growth Trust Fund, WBG World Bank Group . Her responsibilities include operational activities such as supporting the portfolio management, conducting data analysis and evaluation of KGGTF Korea Green Growth Trust Fund activities, and developing infrastructure sector-specific technical agendas for knowledge and learning initiatives. Also, she is heavily engaged in the development and maintenance of technical partnerships with counterparts on green growth infrastructure to support World Bank Group staff and clients to design effective green growth programs and policies.
The World Bank Group was established in 1944 with the mission to provide infrastructure funding and technical expertise to countries unable to qualify for loans and lacking in technical experience. Over the years its role in the world has expanded and it is now focused on the dual goals of reducing poverty and promoting shared economic prosperity. Because of its global presence and wide range of technical expertise, the World Bank Group is uniquely positioned to identify innovative solutions to development challenges being applied around the world and to share these solutions with other countries facing similar challenges.
The KGGTF is a tremendous partner and a highly valued thought leader on green growth and sustainable development.
Marianne Fay, Former Chief Economist, Sustainable Development Group Practice, The World Bank
Korea’s economic success story is a testament to how economic development can be achieved using the framework of green growth and sustainable development. The innovative policies and technical expertise Korea has developed provide relevant examples for other developing countries as they strive towards economic growth and sustainability. To date, the KGGTF Korea Green Growth Trust Fund has influenced roughly $13 billion in project lending to World Bank client countries. Perhaps more important, the KGGTF has been transformative in shaping our approach to planning and investments.
The World Bank looks forward to building on the Trust Fund’s accomplishments to date, and continued collaboration in the future.
Former Chief Economist,
Sustainable Development Group Practice