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Korea Exim News

Korea Eximbank Provides USD 225 Million for Private Sector Development Project through Project Financing

Date 2010.01.05 View 31075
□ Korea Eximbank (, Chairman Dongsoo Kim) announced on August 20th that the Bank will provide USD 225M through project financing to facilitate the participation of Korean companies in Jordan's Al Qatrana private sector development project.

○ USD 125M will be provided through loans, and USD 100M will be provided through the external liability guarantee.

□ Jordan's Al Qatrana Private Sector Development Project was initiated by the government of Jordan to reinforce the power supply shortage problem through private sector capital. This project involves construction and operation of a gas combined cycle power plant in Al Qatrana, 90km south of Amman.

□ Korea Eximbank played an important role in promoting this project by providing 64% of the financing, worth USD 225M, and leading the formation of an international financing package.

*Aside from Korea Eximbank, Islamic Development Bank, Proparco, and many others participated in this project.

□ According to a representative of Korea Eximbank, "Jordan's Al Qatrana private sector development project is projected to raise USD 420M in foreign currency inflows. Additionally, it will also promote foreign capital inflows through the export of generator facilities and equity participation." He added, "This project will serve as a gateway for Korean companies to increase participation in the MiddleEast,theworld'slargestprivatesectordevelopmentmarket."