To invest in the Iranian construction market, Exim Bank of Korea plans to sign loan agreements with the Central Bank of Iran and other commercial banks, and push for Korean firms’ penetration into the oil, gas, infrastructure and healthcare markets, Lee Duk-hoon, president of bank has announced.
At a meeting between the Export-Import Bank of Korea and CEOs of major Korean construction firms on Thursday, the participants agreed on the need to restore overseas construction orders, which fell almost 30% from last year, and carve out a larger share of the new infrastructure market in Iran, the Korea Times reported on Friday.
Exim Bank of Korea seeks to maximize support for private-public cooperation projects by Korean builders in developing countries, and make equity investment as well as directly extend loans.
In keeping with the formal launch of the Asia Infrastructure Investment Bank, the bank will develop and support Asian infrastructure projects using cooperative networks made with China’s central and commercial banks. Particularly, the bank will provide package financing, which includes project financing loans, debt guarantees and equity investment to investment development projects in which local builders plan.
