ANNOUNCEMENT 04 Sep 2013

On 4 September 2013, the Export-Import Bank of Korea ("Korea Eximbank") announced a financing loan through its Economic Development Cooperation Fund (EDCF) for a waste disposal project in Ecuador. This is on the condition of increased participation of Korean firms in Ecuador's infrastructure projects.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Export-Import Bank of Korea, Korea Eximbank Pledges USD 68 Million EDCF Loan to Ecuador, 04 April 2013. Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=18&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16903

Inception date: 04 Sep 2013 | Removal date: open ended
Still in force

Trade finance

On 4 September 2013, the Export-Import Bank of Korea ("Korea Eximbank") announced a financing loan through its Economic Development Cooperation Fund (EDCF) for a waste disposal project in Ecuador. 

Under the terms of the Santo Domingo Sewerage Expansion Project loan agreement, Korea Eximbank will provide a USD 67.98 million loan to build a state-of-the-art sewage disposal system in Santo Domingo, Ecuador.

This is on the condition of increased participation of Korean firms in Ecuador's infrastructure projects and the transfer of knowledge regarding high-quality water treatment technology and equipment.

In this context, the Korea Eximbank mentioned that it aimed for the project to"help the Korean water industry secure a foothold from which to expand into Latin America and beyond."

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.

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