KOICA, ICTD sign MoM for $28.5m project

The Korea International Cooperation Agency (KOICA) and the Information and Communication Technology Division (ICTD) of Bangladesh formally signed a minutes of meeting (MoM) on Thursday to initiate a $28.5-million grant project titled "Fostering Innovative Technology Experts with a Focus on AI in Bangladesh".

The MoM was signed by KOICA country director Taeyoung Kim and ICT Division secretary Shish Haider Chowdhury.

Senior officials from both sides, including heads of ICTD organisations, deputy country director and the Korean government's feasibility study expert team were present at the signing ceremony.

The initiative aims to bolster Bangladesh's expertise in artificial intelligence (AI) and drive technological innovation.

Scheduled to run from 2026 to 2035, the project will establish a cutting-edge AI hub centre at Software Technology Park-2 in Dhaka.

Key features include AI-focused training programmes, scholarships for master's and doctoral studies, support for tech startup incubation and partnerships with leading Korean companies.The KOICA will contribute financial resources, technical know-how, and advanced equipment, while the ICTD will provide essential infrastructure and manage the project's operational framework.

This collaboration is designed to position Bangladesh as a regional leader in AI innovation, fostering sustainable economic growth and tackling national challenges through AI-powered solutions.

Further details will be determined following the approval of the Korean government's fiscal budget later this year.

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