KEXIMExport Import Bank of Korea
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Fitch believes that the government is committed to keeping its controlling ownership of the bank (52% of the common equity directly, 2% through KDB and 2% through KEXIM at end-2016).
The acceptances and guarantees extended by KEXIM to complement the bank's lending activities, grew by 6.
KEXIM serves as an export-credit agency and is the most proactive Korean bank in providing large loans and guarantees for long-term overseas construction and manufacturing projects.
Duk-Hoon Lee, President and Chairman of Korea Eximbank, said: EeAoThe MoU between ADFD and KEXIM will further strengthen ties between our institutions in the area of development aid, while facilitating economic cooperation between Korea and the UAE.
Second, a covered loan of US$500million, guaranteed by ECA from KEXIM channeled through foreign banks including Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd Seoul Branch, Credit Suisse AG, HSBC BANK PLC, Mizuho Corporate Bank Ltd, Seoul Branch, Standard Chartered Bank Korea Limited, and Sumitomo Mitsui Banking Corporation.
From May 29 to June 1, the Export-Import Bank of Korea (KEXIM) met with selected agencies of the Philippine government to discuss possible projects that may form part of the KEXIM pipeline in the current medium term (2017-2022), given the Banks willingness to allocate for the Philippines USD1 billion in concessional loans over a six-year period.
As a tied official development assistance (ODA) loan, the bidding process was governed by the Guidelines for Procurement of Korea's Economic Development Cooperation Fund (EDCF) and decisions were concurred with by KEXIM.
The sovereign has continued to demonstrate its commitment to inject capital into KEXIM in a timely manner to support the bank's lending activities.
KEXIM serves as a primary window to provide funding for those projects such as through export credits.
1) the stipulation in the KEXIM Act holding the government responsible
In February, South Korea's official export credit agency KEXIM said it was raising its sovereign credit rating for Iran by one notch in anticipation of a strong economic growth.