Korea Eximbank, IFC seek to deepen cooperation in strategic industries
Summary
Korea Eximbank and the International Finance Corporation discussed deepening strategic financial cooperation in Bangkok, Thailand, on Friday. The institutions agreed to expand collaboration beyond infrastructure and energy projects in developing countries to critical mineral supply chains and innovative and high-tech industries. Korea Eximbank plans to use World Bank Group platforms and financing tools to support global supply chains, green industries, artificial intelligence and digital infrastructure. Hwang Ki-yeon also discussed cooperation on decarbonization, critical minerals and defense with U.K. Export Finance.
Key Facts
- The meeting was held on the sidelines of the IMF-World Bank Group Annual Meetings in Bangkok, Thailand.
- Korea Eximbank plans to leverage multilateral cooperation platforms and financing instruments across the critical minerals value chain.
- Planned joint financing areas include emerging green industries, artificial intelligence and digital infrastructure.
- Hwang Ki-yeon met with Tim Reid, CEO of U.K. Export Finance, on Thursday to discuss cooperation in decarbonization, critical mineral supply chains and defense.
Export-Import Bank of Korea (Korea Eximbank) Chairman Hwang Ki-yeon, right, shakes hands with International Finance Corporation Managing Director Makhtar Diop after a meeting in Bangkok, Friday, on the sidelines of the IMF-World Bank Group Annual Meetings. Courtesy of Korea Eximbank
Hwang Ki-yeon, chairman and CEO of the Export-Import Bank of Korea (Korea Eximbank), met with Makhtar Diop, managing director of the International Finance Corporation (IFC), to discuss ways to strengthen strategic financial cooperation between the two institutions, the bank said Sunday.
The meeting took place Friday on the sidelines of the IMF-World Bank Group Annual Meetings in Bangkok, Thailand.
The two institutions agreed to expand their existing cooperation on infrastructure and energy projects in developing countries into new strategic areas, including critical mineral supply chains and innovative and high-tech industries.
Korea Eximbank plans to leverage the World Bank Group's multilateral cooperation platforms and financing instruments to help stabilize global supply chains and strengthen cooperation across the critical minerals value chain.
The bank also intends to expand joint financing for innovative and high-tech sectors, including emerging green industries, artificial intelligence and digital infrastructure.
"By working closely with global financial institutions, including the IFC, Eximbank will continue to serve as a financial bridge supporting Korean companies' overseas expansion," Hwang said.
Separately, Hwang met with Tim Reid, CEO of U.K. Export Finance, on Thursday to discuss ways to expand financial cooperation in areas of mutual interest, including decarbonization, critical mineral supply chains and defense.
Explore More
- Q.
- Q.
- Q.