The Korea-World Bank Partnership Facility (KWPF), established in May 2013, is an initiative to strengthen partnership between Korea’s Ministry of Economy and Finance (MoEF) and the World Bank. As the largest MoEF trust fund managed by a Multilateral Development Bank (MDB), KWPF supports countries that seek to adapt and apply Korea’s development experience and technical expertise to achieve their own development goals. Since its establishment a decade ago, KWPF has received US$518 million in contributions and supported 193 grant projects across sectors.
On May 21, 2024, KWPF held a one-day event featuring most impactful KWPF grants on Jobs & Skills Development, one of the KWPF priority sectors. The conference presented key findings from the “Jobs” report, which was launched at the Spring Meetings 2024.
The conference was held in close cooperation with the Social Protection and Jobs (SPJ) GP at the World Bank. The event presented how KWPF, as a catalyst in innovation in development, facilitates innovative ideas and sustainable solutions to address various challenges, by enhancing inclusive opportunities, improving employability especially of vulnerable groups, and promoting investments in human capital and skills development.
Key objectives of the event include:
1. Highlight the key achievements and impacts accomplished by KWPF grants in the Jobs sector
2. Facilitate dialogue on best practices and lessons from clients, task teams, and partners
3. Showcase best practice examples where Korean knowledge was leveraged in response to client demand
4. Promote innovative approaches to addressing challenges in the Jobs sector in the post-pandemic world
5. Strengthen Partnership with key stakeholders
Participants:
• Ministry of Economy and Finance of Korea (MoEF)
• Ministry of Employment and Labor of Korea (MOEL)
• World Bank (incl. DFI VP, DFI Director, SPJ Senior Advisor)
• Korean Knowledge Partners (academia, think tanks, SOEs, public agencies, private sector)
• SPJ GP task teams and KWPF grant teams
• Grant beneficiaries