□ On May 18, Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) signed an MOU with Agence Française de Développement (AFD) in Paris, France to strengthen official development aid cooperation.

□ With this agreement, both institutions will be able to improve development assistance as the agreement promotes knowledge sharing between the two institutions in regards to assistance experience in their respective areas.

○ In addition, strengthened cooperation with regard to infrastructure development and responses to climate change, areas emphasized in the G20 Seoul Development Consensus, will provide Korean companies with more opportunities to participate in international development projects.

* The largest proportion of support by the Economic Development Cooperation Fund (EDCF) was provided for Asia. AFD is the largest donor agency to developing countries in Africa.

□ Didier Marcier, deputy general director of the AFD, stated “The AFD is willing to share experience and information of development in Africa with Korea, which has much interest in resource development and infrastructure construction.” Marcier also expressed his hope that Korea will actively participate in supporting Africa in order to achieve the Millennium Development Goals.

□ Executive Director Seop Shim of Korea Eximbank replied, “With this MOU, Korea Eximbank looks forward to expanding participation in development projects of developing countries. After signing a cooperation agreement with Japan International Cooperation Agency in 2006, the recent agreements with AFD and KfW will greatly enhance the network among credit assistance agencies of advanced countries.

□ Meanwhile, Korea Eximbank signed an MOU on May 17 in Frankfurt, Germany with KfW Entwicklungsbank (KfW) to enhance identification of co-financing projects in infrastructure development and reinforce cooperation in green growth.