ANNOUNCEMENT 24 May 2018
In May 2018, the Export-Import Bank of Korea ("Korea Eximbank") announced a financing loan through its Economic Development Cooperation Fund (EDCF) for a national oncology centre project in Senegal.
NUMBER OF INTERVENTIONS
The Export-Import Bank of Korea, EDCF to Provide USD 88.5 Million to Build National Oncology Center in Senegal. Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=1&menuid=002001007&pagesize=10&boardtypeid=284&boardid=59582
In May 2018, the Export-Import Bank of Korea ("Korea Eximbank") announced a USD 88.5 million financing loan through its Economic Development Cooperation Fund (EDCF) for a national oncology centre project in Senegal, the Senegal National Cancer Center.
In this context, the Korean Eximbank mentioned that: "Upon completion of this project, the center is expected to be the first hospital specializing in cancer treatment in Senegal with Korea’s high-end medical equipment and skills for cancer treatment fully transferred to the country. Moreover, it will support the entry of Korean companies into the African medical market."
The Economic Development Cooperation Fund
The EDCF provides low-interest and long-term credit to developing countries for projects seeking to promote industrialisation and economic stability. In some cases, Korean companies are involved in such projects directly or through exports. More information on the Fund 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.