AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The MoU between Korea Eximbank and the Afreximbank has an attached credit line with a total value USD 100 million. The credit line is an Interbank Export Credit and will support Korean companies expand their business to Africa.
In this context, a Korea Eximbank official stated: "This MOU is expected to give needed financial support to Korean companies that are highly motivated to export goods to Africa, which is likely to increase Korean SME's exports to Africa in general."
The Afreximbank has as of 26 October 2016 41 member states, these are respectively: Angola, Benin, Botswana, Burkina Faso, Cameroon, Cape Verde, Chad, Côte d’Ivoire, Democratic Republic of Congo, Egypt, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, and Lesotho. Others are Liberia, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Republic of Congo, Rwanda, Sao Tome, Senegal, Seychelles, Sierra Leone, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe
Interbank Export Credit
The Eximbank of Korea extends credit to foreign banks for the purpose of financing companies’ purchase of Korean goods and services through loans. More information on the Bank's financial instruments 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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