AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The loan and MoU between Korea Eximbank and the Ministry of Finance and Economic Cooperation of Ethiopia has a value of USD 127 million and USD 100 million respectively. The MoU and loan agreement seeks to "support the economic development in Ethiopia and establish stepping stones for Korean companies to enter the Ethiopian market". The two loans, totalling USD 227 million are provided through the Economic Development Cooperation Fund.
The Economic Development Cooperation Fund
The EDCF provides low-interest and long-term credit to developing countries for projects seeking to promote industrialisation and economic stability. In some cases, Korean companies are involved in such projects directly or through exports. More information on the Fund can be found on the official website or the "Guide to the Import-Export Bank of Korea" publication.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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