ANNOUNCEMENT 09 Jun 2014In June 2014, the government of Republic of Korea announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Press release by the Export-Import Bank of Korea: Korea Eximbank Pledges USD 19 Million EDCF Loan to Vietnam National Hospital
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=3&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16998
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
On 9 June 2014 the Export-Import Bank (Eximbank) of Korea announced that it will provide a a loan to fund Vietnam's 'Medical Equipment Supply to National ENT (Ear, Nose and Throat) Hospital Project'. The loan worth USD 19 millionis granted through the Economic Development Cooperation Fund (ECDF).
The project will involve a number of Korean Small and Medium sized Enterprises (SMEs) from the medical equipment sector. In this context the Eximbank stated: "Korean SMEs and medium-large businesses enjoy a comparative advantage in the medical equipment sector. I hope this project would accelerate the entry of Korean firms into the Southeast Asian medical equipment market."
The EDCF provides low-interest and long-term credit to developing countries for projects seeking to promote industrialization 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.