Korea Eximbank, IDB sign $300 million co-financing deal for Latin America infrastructure projects

By Kim Dong-young Posted : July 26, 2024, 09:53 Updated : July 26, 2024, 09:53
Eximbank Chairman Yoon Hee-sung (left) and IDB President Ilan Goldfajn shake hands after signing a memorandum of understanding to provide co-financing for infrastructure projects in Latin America in Rio de Janeiro, Brazil, on July 25, 2024. Courtesy of Eximbank
SEOUL, July 26 (AJU PRESS) - The Export-Import Bank of Korea (Eximbank) has signed a memorandum of understanding (MOU) with the Inter-American Development Bank (IDB) to provide co-financing for infrastructure projects in Latin America, the bank announced on Friday.

Under the agreement, Eximbank will extend up to some 414.5 billion won ($300 million) in co-financing over the next three years through its Economic Development Promotion Facility (EDPF). The bank aims to identify and jointly finance large-scale infrastructure development projects in IDB's 26 regional member countries eligible for EDPF support.

Eximbank Chairman Yoon Hee-sung and IDB President Ilan Goldfajn signed the MOU on Thursday in Rio de Janeiro, Brazil, during the Korea-LAC Trade & Innovation Forum.

"This collaboration with IDB will not only strengthen economic cooperation between Korea and Latin American countries but also help lay the groundwork for Korean companies to participate in infrastructure projects in the region," said Yoon.
Kim Dong-young

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