ANNOUNCEMENT 15 Jan 2014

On 15 January 2014 the Export-Import Bank (Eximbank) of Korea signed an Unitied Interbank Loan Agreement with ICICI Bank, increasing the Indian bank’s credit line ceiling with USD 200 million, now totalling USD 1 billion. The first credit line agreement was originally established in 2007, at that point totalling USD 200 million. In this context the Bank stated: “This agreement will serve as a financial bridge for Korean companies targeting the Indian market. Korea Eximbank will exploit ICICI Bank's extensive financial network to provide the fullest possible support to Korean businesses entering India.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



The Export-Import Bank of Korea press release: Korea Eximbank Expands Credit Line with ICICI Bank to USD 1 Billion
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=7&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16960

Guide to the Export-Import Bank of Korean
Available at: https://www.koreaexim.go.kr/site/inc/file/fileDownload?dirname=/doc/002&...
ExImBank official website: https://www.koreaexim.go.kr/site/main/index002


Inception date: No inception date

Trade finance

The newly-announced credit line of USD 200 million may be used for buyer's credit by Indian importers of Korean products.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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