The heads of the World Bank and the International Monetary Fund will visit South Korea next week to attend a launch ceremony for a climate fund office, the Finance Ministry said Wednesday.

Jim Yong Kim of the WB and Christine Lagarde of the IMF will attend the ceremony to mark the opening of the secretariat office of the Green Climate Fund. It will be held on Wednesday next week in Songdo, west of the country’s capital of Seoul.

South Korea was chosen last October to host the U.N. fund that aims to channel aid to help developing nations combat climate change. The headquarters of the U.N. fund is located in Songdo.

Lagarde’s visit to South Korea is part of her tour of Asian member countries. Kim will attend a separate event to mark the opening of a Seoul office of the WB, which will be held a day earlier, the ministry said.

During their stay, the two also plan to join a forum as panel members, which is to be held on the sidelines of the ceremony, the ministry said. (Yonhap News)