Seoul and Abu Dhabi to co-finance projects

09 March 2015

The Export-Import Bank of Korea signs agreement with Abu Dhabi Fund for Development

  • Seoul and Abu Dhabi to co-finance schemes in emerging markets
  • Agreement is a precursor to credit facilities being offered
  • South Korea has strong trade links with the UAE

The Export-Import Bank of Korea (Kexim) has signed a preliminary agreement with the Abu Dhabi Fund for Development to work together on co-financing projects in emerging markets.

The memorandum of understanding (MoU) is the first step in the two entities co-funding projects through the use of concession loans; which are credit facilities usually offered to countries by other governments at below market rates.

Sectors such as education, infrastructure, agriculture, health and information and communication technology sectors are areas of interest for both parties.

The use of public-private partnership (PPP) structures will also be something the two sides will promote to help provide much-needed funding for infrastructure development in emerging markets.

South Korea has strong trade and investment ties with the UAE, with several its construction firms winning contracts on the country’s major infrastructure projects.

Stay informed with the latest in the Middle East
Download the MEED app today, available on Apple and Android devices

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications