Technical co-operation fund receives major boost from Republic of Korea

On March 17 the Republic of Korea made a donation of more than US$400,000 to the IMO's Integrated Technical Co-operation Fund, which supports IMO's Integrated Technical Co-operation Programme (ITCP) activities. It also announced plans to increase its donations in the future, thereby continuing the country's active participation in IMO's technical co-operation activities.

A cheque was presented to IMO Secretary-General Efthimios E. Mitropoulos by the Republic of Korea's Minister for Maritime Affairs and Fisheries, Mr Keo-don Oh, who emphasised his country's firm, long-term support for IMO's important technical co-operation work. In thanking the Minister for his country's generous and exemplary contribution, the Secretary-General stressed the vital part played by technical co-operation activities in helping the Organization to achieve its overall aims.

The Organization has established the ITCP to assist countries in building up their human and institutional capacities for uniform and effective compliance with the Organization's regulatory framework. By fostering capacity-building in the maritime sector, the ITCP contributes to sustainable socio-economic development.

In June 2003, the Republic of Korea signed a Memorandum of Understanding (MOU) with IMO on Technical Co operation and established a trust fund into which some US$700,000 had been transferred by 2004.