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South Korea

Appeal for help on $15b rescue bid

2-MIN READ2-MIN

Pyongyang is to appeal to the international community to finance a US$2 billion (HK$15.47 billion) economic recovery programme.

The aim is to make it self-sufficient in food by the year 2000, a draft United Nations document shows.

It says the international community must restore food production and food security in order to phase out food aid now costing US$400 million a year.

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The report adds that in less than four years North Korea's Gross Domestic Product (GDP) has shrunk by 50 per cent and agricultural production has dropped by 75 per cent.

Per capita GDP halved to US$481 in 1996.

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The draft United Nations Development Fund proposal is to be presented to a meeting of aid donors scheduled for April 30 in Geneva.

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