Korea’s development aid is provided through the Korean International Cooperation Agency (KOICA) and the Economic Development Cooperation Fund (EDCF). KOICA is responsible for bilateral grants and the EDCF for bilateral loans. Both agencies have their own evaluation unit.

The EDCF supports partner countries in providing of loans for their economic development. The EDCF’s loans are administered by the Export-Import Bank of Korea under the supervision of the Ministry of Strategy and Finance. The Evaluation Team conducts evaluations for the EDCF activities.

The Framework Act on International Development Cooperation is also the legal basis for the EDCF’s ODA activities and provides the EDCF with the mandate to conduct evaluation of its operations. The Evaluation Team in the EDCF Coordination Group conducts evaluations for the EDCF’s activities.

The EDCF Evaluation Team belongs to the Operations Services and Evaluations Department of the EDCF Coordination Group. The Head of the Evaluation Team reports to the Head of the Department and the Executive Director of the EDCF Coordination Group. The Executive Director subsequently reports to the Minister of Strategy and Finance.

The EDCF Evaluation Committee is headed by the Executive Director of EDCF Group and is composed of heads of related Departments. The EDCF Evaluation Committee examines and deliberates the basic policies and contents of EDCF project evaluations, relevance of evaluation ratings, rigour of evaluation reports and a way to feedback evaluation results.