SEOUL, The government plans to carry out some 3.5 trillion won (US$2.63 billion) worth of aid projects this year to help promote the growth and welfare of developing countries, the foreign ministry said Wednesday. The official development assistance (ODA) for 2024 marks a 38.9 percent on-year increase from the size of last year and will be implemented in various areas from humanitarian aid, education and agriculture to health, to help the recipient countries overcome problems like conflict and climate change, the ministry said. The government finalized the ODA plan during an interagency meeting, presided over by Second Vice Foreign Minister Kang In-sun. A total of 46 government agencies will get involved to carry out 1,699 bilateral and multilateral ODA projects this year, the ministry added. The ODA includes the direct provision of grants, loans and technical assistance to developing countries or indirect ones to international organizations. South Korea offers grants and concessional loans. Grants requ ire no repayments from the recipient countries, while loans refer to transfers made in cash or goods on concessional terms that come with repayment obligation. Source: Yonhap News Agency