The purpose of this study is to find out the economic impacts of the CASSAVA project, IPM project, Post-Harvest project, and RICE project among 12 projects that are being worked on by the Asian Food & Agriculture Cooperation Initiative(AFACI) established in 2009. Reliable data such as FAO STAT etc. was utilized for the analysis on the economic impacts of each project and the data of an investigation on principal investigators of the nation who participate in each project was used for the analysis of the additional necessary information. According to the economic impacts analysis result, the economic impacts will occur and can be measured as an economic costs as follows: a total of $1,187,404 in Thailand for the next 19 years through the CASSAVA project, $2,358,299 in Indonesia for the next 18 years through the Post-Harvest project, $62,451,317 in Vietnam for the next 13 years through the Post- Harvest project and $60,629,555 in Nepal for the next 13 years through the RICE project. The AFACI project is a small project that annually supports each country that participates each project with approximately $ 10,000. Despite the small-scale project, the estimated result of economic impacts showed that great economic impacts occurred for its scale of the support. Thus, it is deemed that a search for ongoing methods that contribute to the role expansion of Korea and the agricultural development of the recipient country will be needed through the expansion and complementation of a low-cost and high efficiency Official Development Assistance(ODA) such as the AFACI project.