AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The trade financing guarantee contract has a total value of USD 1 billion. Through the contract, Korea Eximbank will be able to provide "Interbank Export Credit for Korean exports to 77 banks in 20 Central and South American countries that IDB provides guarantees for, as well as provide L/C confirmations issued by these banks."
In this context, the Chairman of the Export-Import Bank of Korea stated: "This trade finance guarantee contract will further stimulate Korea’s exports to Central and South America and foster infrastructure development in the region through co-financing with IDB."
Interbank Export Credit
The Eximbank of Korea extends credit to foreign banks for the purpose of financing companies’ purchases 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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