Eximbank, ADB ink US$2.5 bln co-financing deal for development projects

SEOUL, July 13 (Yonhap) -- The Export-Import Bank of Korea (Eximbank) said Wednesday it signed a memorandum of understanding (MOU) with the Asian Development Bank (ADB) on financing the Asian region's infrastructure development projects that are to be undertaken by South Korean firms.
Under the agreement, Eximbank and ADB will together chip in US$2.5 billion over the next three years to fund private-sector infrastructure development projects that are participated in by local firms in Asia, the state-run trade bank said in an e-mailed statement.
The financing will be provided via various financial tools, including loans and stake investments, said Eximbank.
The co-financing deal will pave the way for more South Korean firms to profit from the region's growing infrastructure development market.
The size of Asia's infrastructure development projects is forecast to amount to $8 trillion between 2010-2020, according to ADB data.
mil@yna.co.kr
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