ANNOUNCEMENT 25 Jul 2011
On 25 July 2011, the Export-Import Bank of Korea (Korea Eximbank) announced signing an Interbank Export Loan Agreement with the Mongolian Khan Bank to support Korean exports.
NUMBER OF INTERVENTIONS
The Export-Import Bank of Korea, press release of 25 July 2011, The Export Route to Mongolia Widens for Korean Companies: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=43&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16631
Guide to the Export-Import Bank of Korean: http://ehf.koreaexim.go.kr/File.down?file=/attach_file/conts/en/_English_guide_book.pdf
The Interbank Export Loan Agreement between Korea Eximbank and the Khan Bank has a total value of USD 20 million. Through Khan Bank, this credit line will finance Mongolian importers of Korean goods and services.
In this context, a Korea Eximbank official stated: "With the agreement, the Bank anticipates a rise in exports of Korean automobiles, daily necessities, and construction equipment related to mine development."
Interbank Export Loan Agreement
The Eximbank of Korea extends loans to foreign banks on favourable terms and conditions for the purpose of financing local 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.