IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 23 Jun 2019 | Removal date: open ended

Trade finance

On June 23rd, 2019, The Export-Import Bank of Korea signed an agreement with PetroVietnam, the state-owned petroleum company of Viet Nam, specifically a 'framework agreement' to the value of USD 2bn.

The agreement is aimed at resolving 'financing difficulties' in order to further Korean firms' rate of winning tender on large infrastructure projects within Viet Nam.

At the signing ceremony, a Korean Eximbank official stated that the agreement 'created a very favourable environment for Korean companies to receive large-scale projects', tender for which had come to USD 7.5bn in the most recent six months alone.

AFFECTED COUNTRIES

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