Following a successful application and the submission of the 2020 self-report, the Republic of Korea is the newest, 62nd Signatory to the Grand Bargain.
The Grand Bargain now includes 62 Signatories (25 states, 11 UN Agencies, 5 inter-governmental organizations and Red Cross/Red Crescent Movements and 21 NGOs) and represents 73% of all humanitarian contributions donated in 2018 and 70% of aid received by agencies.
The Grand Bargain shows continued traction within the humanitarian system. In 2018 alone four new Signatories joined (one UN agency and three NGOs), one both in 2019 (one NGO) and 2020 (one Member State).
The Republic of Korea revised its humanitarian assistance strategy in 2019 to reflect their aim to increase the volume and effectiveness of humanitarian assistance and to strengthen the efforts in ensuring the humanitarian-development-peace nexus and in improving the humanitarian system. In doing so, Korea decided to endorse the Grand Bargain to join the international efforts in strengthening the efficiency and effectiveness of humanitarian assistance.
Korea has been especially focused on delivering against the commitments within the localization and enhanced quality funding workstreams. It increased its support to flexible funding tools that improve assistance delivered by local and national responders, such as the UN-led Country-Based Polled Funds (CBPFs). In addition, they also focus on cross-cutting commitments such as better incorporating gender equality considerations.
The sign-up process to the Grand Bargain is now closed until the Annual Meeting 2020.