Minister of Strategy and Finance Yoon Jeung-hyun will leave on May 17 for a trip to Astana, Kazakhstan where he will chair the 20th Annual Meeting of the European Bank for Reconstruction and Development (EBRD).

The May 20-21 meeting, to be held under the theme of “Supporting Markets - Asia Meets Europe”, will be attended by delegates from 61 member countries and important figures from the international financial world. This week’s event will mark the first time for any non-European country to chair the annual EBRD conference.

 As chair of the meeting, Minister Yoon will preside over the opening ceremony and deliver the opening speech. He will also preside over a roundtable meeting of chief delegates to discuss aid to North African countries such as Egypt.

In the opening speech, Minister Yoon will discuss the EBRD’s growth over the last 20 years and historic changes that are needed to prepare for the next two decades. He will also emphasize the need for the EBRD to expand its role so that the recent changes in North Africa and the Middle East can become a stepping stone to new opportunities and growth.

 Minister Yoon is also scheduled to hold a meeting with EBRD President Thomas Mirow where the two officials will sign an MOU on cooperation between the EBRD and Korea’s Knowledge Sharing Program (KSP). Minister Yoon will also request the bank to enable Korean experts to work for the EBRD, and to allow Korean companies to participate in the bank’s procurement consulting services. The KSP was established in 2004 to share Korea’s economic development experience with nations of the developing world.

Earlier this year, Korea set up a consultation system with the EBRD, the World Bank, the Asian Development Bank, the Inter-American Development Bank and the African Development Bank as part of the country’s continuing efforts to provide assistance to developing countries.

 * Please refer to the attached PDF file.